TID 8 shows negative fund balance now but development may reverse trend
Village staff reported TID No. 8 had a negative fund balance (about $55,000) with projections deepening to $1.3M in 2027; additional apartment and commercial development could trigger MRO payments and improve finances. The board received and filed the report.
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Cathy, the village finance director, reported that Tax Increment District No. 8, a fiduciary real estate development district created Nov. 2, 2020, had 2025 tax increment of about $848,000 and total revenues around $881,000.
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