School Districts Voice Concern Over Proposed River Forest TIF
One issue the school districts have is beginning with year 12 of a proposed TIF, the village will declare surplus payments based on a percentage of incremental taxes, but only after all expenses of any kind attributable to the TIF district are previously paid for with TIF monies.
Chicago's Schools Made Wall Street $110M From $763M in Bonds
The school system has said it needed the money to replenish its dwindling coffers before the new school year and to build and repair facilities. The terms of the bond sales highlight the choices the school district faces after years of pension shortfalls and relying heavily on borrowing.
ConAgra Moves to IL Despite Receiving Less Incentives
ConAgra Foods wanted to move its headquarters to Chicago so badly that the company took a pass on an estimated $28.5 million in incentives Nebraska would have offered to keep it in Omaha. They will still receive Illinois tax credits despite the state moratorium.
IL Sets Sale of up to $1.7B of Bonds for October
The nation's lowest-rated state is preparing to issue around $400 million of new bonds to fund road, transportation and school projects, and $1.2 billion to $1.3 billion of refunding bonds to take advantage of lower rates in the U.S. municipal market.
USDA Grant Supports Rural Development in IL
The U.S. Department of Agriculture has awarded more than $25 million in federal funding to rural development projects throughout Illinois. Programs that are receiving aid include emergency community water assistance and water and waste disposal.
Cook County Awards 7C Tax Break For Milwaukee Avenue Development
Mega Realty was granted a Class 7C property tax incentive by Cook County commissioners Thursday and signed a $150,000 tax increment financing (TIF) district agreement with Niles village trustees in late August.
LIHTC's and TIF Assist Accessible Chicago Housing
Chicago-based nonprofit Full Circle Communities is providing accessible and adaptable housing and targeted supportive services to accommodate individuals and families with disabilities.
Oswego Officials Hope New Tax District Will Encourage Development Downtown
Oswego officials are hoping to spur redevelopment that brings more retail, restaurants and residential living units to the heart of the downtown in order to strengthen the historic charm of Main Street.
Chicago Aldermen Seek To Surplus A Shared TIF District To Fund Schools
Five Chicago aldermen want to surplus funds from a TIF district located in their wards and use the money to help "alleviate the budget crisis" at the cash-strapped Chicago Public Schools.
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