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Board explores TIF to buy property for community building but finds it too costly
Summary
Trustees discussed creating a TIF district to acquire property for a community building but concluded the approach would be too costly and did not advance a proposal.
The board considered whether to create a tax-increment financing (TIF) district to enable the Village to purchase property for a community building. The minutes summarize the discussion: a new district was explored, but the board concluded the solution would be too costly and did not record a motion to establish a TIF.
Trustees and staff previously discussed potential financing avenues; Trustee Kris Neuman referenced follow-up with legislators on financing options for a community building elsewhere in the meeting. The minutes provide no cost estimates or next steps for the TIF option.
