Homestead TIF dissolves
BY TESA GLASS
MT. VERNON — After more than seven years of inactivity, the project-specific Homestead Tax Increment Finance District will be dissolved.
“The state statute on TIFs is that if there is no project … Continue reading
North TIF District – North of Mt. Vernon on Rte. 37 near the Homestead Golf Course property
Map – to be posted at a later date
Downtown Mt. Vernon TIF – An area around the downtown square and extending to … Continue reading
Downtown TIF District:
5 appointed member board; 3 year terms.
Meetings are as needed.
Advisory Board Members:
Paul Lynch – Chairman
North, East and West TIF Districts:
… Continue reading
Housing project moves forward
Alabama developer proposes 12-unit development downtown
BY RICK HAYES
MT. VERNON — An Alabama developer, David Null of Riverwood Construction, proposed two story single family housing units in the downtown TIF district.
Three members … Continue reading
According to the Register-New 10/7/14, “the Downtown Tax Increment Finance (TIF) Fund was also discussed. Charlton (with Krehbiel and Associates) said that $ 212,000 in improvements were made in the downtown area in the (2013) fiscal year.”
Municipalities in Illinois and across the nation are faced with numerous challenges, not the least of which is encouraging economic growth in blighted, decaying, and underperforming areas in need of development or redevelopment.
Most often improving these areas requires … Continue reading
The information below was adapted from the Illinois Tax Increment Association (ITIA):
1. What is Tax Increment Financing?
Tax Increment Financing, or TIF, is a tool state lawmakers gave local governments in the 1980s to help communities restore their … Continue reading