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Don’t know why I didn’t think to figure out how much the Lakewood TIF project will cost before, but I didn’t until bond analyst Steve Willson ran the numbers. Most have been thinking that the figures provided in the SB … Continue reading
Category Archives: Tax Increment Financing
The following was sent by Lakewood resident Steve Willson: Attached please find a copy of the memo written in response to my questions of the consultant Lakewood hired to approve the TIF district. He has reviewed around 50 TIF districts. … Continue reading
Lakewood’s Tax Increment Financing District feasibility study has a section aimed at the question, “But for…” In other words, what would happen if there were not a TIF District? Would there be development or not? Here’s a summary of the … Continue reading
Sunday Northwest Herald columnist Kevin Craver weighed in on the proposed Lakewood Tax Increment Financing District (due to be passed this Tuesday night at a 7 PM meeting being held at Turnberry Country Club). Of interest to some will be … Continue reading
A press release from the Village of Lakewood: Update to January 27 Board Meeting As a follow up to the informational meeting held on January 20 and earlier correspondence, the Village of Lakewood wants to clarify that a final decision … Continue reading
This is found on page 32 of the Lakewood Tax Increment Financing District feasibility study: The line at the bottom has stirred some interest. It shows $1 million for “affordable housing construction.” Lakewood has been put on a watch list … Continue reading
Bond analyst Steve Willson, a Lakewood resident, put together his take on what happened at the public hearing on the ChicagoLand SportsPlex. You may read it below: A Summary of Lakewood’s Public TIF Meeting Village: Thank you for coming to … Continue reading
An email to the Lakewood Village Trustees from Lakewood resident and bond analyst Steve Willson, a copy of which landed in my inbox: To the Lakewood Board of Trustees: When the subject of a TIF district became lively, I did … Continue reading
From reader Susan. Facts about the Woodstock School District which she extracted from the Official Statement of 2014 General Obligation Bonds issued by D200. Numbers are worse in Woodstock CUSD 200. This is where Lakewood will insert the children of the … Continue reading
The Village of Lakewood has pretty much decided to create a Tax Increment Financing District of about one square mile. This Tuesday at 7 PM, the SportsPlex development, in its second iteration, will be presented at a public meeting at … Continue reading
In Saturday’s Chicago Sun-Times is an article about Chicago Alderman Bob Fioretti’s mayoral campaign. It says he wants to use $25 million in Tax Increment Financing money “to bankroll a summer jobs program and using everything else that’s not committed … Continue reading
A commenter named Mark provides the following information on the proposed Lakewood Tax Increment Financing District. (A meeting will be held at the Turnberry Country Club at 7 PM on the next two Tuesdays to discuss the SportsPlex proposed for … Continue reading
Here’s the winter letter to Lakewood residents from Village President Erin Smith: From the President Dear Neighbors: On behalf of the Board of Trustees, we want to extend our very best wishes for a joyous holiday season to each of … Continue reading
The purpose of Tax Increment Financing (TIF) Districts was to provide assistance in developing distressed property. The definition has been so broadened by the legislature that developments like the Huntley Outlet Mall got TIF money Those shops were built on … Continue reading
McHenry County Blog was started in reaction to the City of Crystal Lake’s announcement that it would be creating a Tax Increment Financing District to finance development of the Vulcan Gravel Pit. With the subsequent recession, that plan went askew … Continue reading
It was last April when I noticed that the decorative street lights financed by the Virginia Street Tax Increment Financing. Look at the ones you see in the photo below, taken on a good day in November, 2011. Then compare … Continue reading
Since McHenry County Blog was started in reaction to the Crystal Lake City Council’s putting Route 14 next to the Vulcan gravel pit in a Tax Increment Financing District, perhaps you will excuse me for returning to the subject once … Continue reading
Here’s the response to my request for information about the decorative Route 14 street lights paid for with money from people all over McHenry County through the Virginia Street Tax Increment Financing District: … Continue reading
A year and a half ago in November of 2011, Crystal Lake city officials gathered in McCormick Park to dedicate the improvements along Virginia Street financed by that street’s Tax Increment Financing District. Among the improvements were low and high … Continue reading
The McHenry County League of Women Voters and the American Association of University Women in Crystal Lake sponsored a candidates night for the five candidates for three seats on the Crystal Lake City Council. Two challengers–Charles Ebann and Jim Tomasello–are … Continue reading