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TID 1 given one‑year affordable‑housing extension; closeout projected March 2025
Summary
The JRB reviewed the PE‑300 supplemental report for TID 1: a one‑year affordable‑housing extension was granted March 13, 2024 for Rolling Meadows, and the district is projected to be able to pay debts and close in March 2025.
Ariana Schmidt presented the supplemental PE‑300 report for existing TID 1. The district received a one‑year Affordable Housing Extension on March 13, 2024 to allow completion of the Rolling Meadows development. Schmidt reported that, based on current projections and utility advances, TID 1 will be able to pay its outstanding debts and is projected to close in March 2025.
Board members were advised that a final Joint Review Board meeting will be required to formally close out TID 1 after obligations are satisfied. The presentation included cash‑flow and debt‑service exhibits; specific numeric line items were shown in slides but are not transcribed in the minutes.
