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Officials say Nokomis TIF will include audits, annual reports and joint-review meetings
Summary
Consultants and the mayor said TIF funds will be audited annually and reported to the Illinois comptroller; residents were told redevelopment agreements and annual reports will be public records available at City Hall.
During the Jan. 27 hearing, residents pressed city officials for clarity about how TIF money would be tracked and made available to the public. Jake Zambaldi said the City must keep TIF revenue in a special allocation fund, have annual audits, file an annual TIF report and hold joint-review-board meetings that invite affected taxing districts. He noted those reports would be public and available on the Illinois comptroller website and at City Hall.
Dan Koski asked how a resident could access records; Jake said the annual financial report and TIF report are public records and that redevelopment agreements and expenditure authorizations would be published in public meeting minutes and resolutions. Chad Ruppert and others said they wanted confirmation that oversight would continue across potential future administrations; Mayor Goldsmith said the City plans to adopt written guidelines and a comprehensive plan to provide continuity over the 23-year statutory term.
