From Susan Handelsman: Last TIF 2 Meeting for Woodstock City Council 1-15-19 7 pm We understand Woodstock TIF 2 is a done deal, as far as Woodstock City Council voting is concerned. The meeting tomorrow night is simply a final … Continue reading
Category Archives: Tax Increment Financing
Prior to the December 18th Joint Review Board hearing for the huge new Tax Increment Financing District proposed by the Woodstock City Council, School District 200 Board President Carl Gilmore wrote the following call for opposition, which was published in … Continue reading
Susan Handelsman again urges Woodstock residents to contact members of their City Council asking them to reject the new Tax Increment Financing District: 2018 Woodstock TIF 2 Final City Council Action Coming Up Woodstock TIFs are tax hikes. Woodstock property tax rate … Continue reading
From School District 200 resident Susan Handelsman: WHERE DOES TIF MONEY COME FROM? Mayor Brian Sager of Woodstock and a large team of highly compensated Financial Development department government employees assert that the money comes from TIF ‘Development’, NOT taxpayers … Continue reading
From Seneca Township and School District 200 resident Susan Handelsman: 1997 Woodstock TIF 1 Data about Diecast Site By historical records available, it seems that: By 1998, the Diecast site was cleaned up at Allied Signal’s expense, and the clean … Continue reading
From Susan Handelsman: Understanding how TIF Raises Taxes and Lowers Property Values An easy way to understand how TIF raises taxes and lowers property values of real estate (other than commercial development receiving TIF subsidies) is to look at the model … Continue reading
From Woodstock’s Susan Handelsman: 2018 Woodstock TIF 2 City Council Appeal 11-20-18 Woodstock City Council, the only people empowered now to stop Woodstock TIF 2, need to be made aware that the so-called ‘taxpayer’s representative” on the Joint Review Board … Continue reading
From Rural Woodstock resident Susan Handelsman: The final Woodstock City Council Meeting hearing on TIF 2 is tonight, Tuesday, 12-4-18 at 7 pm, Woodstock City Hall. The passage of TIF 2 is largely considered a ‘done deal,’ but it is … Continue reading
More thoughts from Seneca Township resident Susan Handelsman: WOODSTOCK TIF 2: CAN IT BE STOPPED? Lawsuit. Woodstock CUSD 200 has standing to file litigation to stop this TIF. The TIF study procured by Woodstock has enough similarities to the 2016 … Continue reading
From Seneca Township’s Susan Handelsman: WOODSTOCK TIF 2: TAXPAYERS SELF-DEFENSE OPTIONS Detach southern/western portion of taxable properties from Woodstock CUSD 200. A second school district could be created from the old high school and new Dean Street school complex. New … Continue reading
The following is from rural Woodstock resident Susan Handelsman, as result of substantial analysis: Quantifying the Nebulous “But-For” TIF (Tax Increment Financing) Requirement Using Cap rate as ‘But-For’ guidance In every profession there are industry standards guiding decisions. Real estate … Continue reading
Here is what Seneca Township resident Susan Handelsman, an ardent Tax Increment Financing District opponent, presented in Public Comment at Monday’s Woodstock Joint Review Board meeting. Analyze TIF as a Promised Annuity beginning Payment in 23 years.. (Woodstock TIF 2 … Continue reading
At three o’clock representatives from the following tax districts who would be negatively affected by the proposed 562 acre, 536 structure Woodstock TIF District met at City Hall: McHenry County College Woodstock School District 200 Woodstock Fire Protection District Dorr … Continue reading
The Chicago Tribune has an article about a suit by Algonquin School District 300 against Sears. The District formed a coalition of parents, students, employees and just plain taxpayers to oppose the extension of the Sears TIF District a second … Continue reading
Just in case folks don’t remember, the Huntley Outlet Mall was part of a Tax Increment Financing District. It was raw farm land. That shows how bad the TIF law is. And, now: Crews begin tearing down Huntley outlet mall … Continue reading
Minutes from the Woodstock City Council reveal that efforts are in motion to continue the flow of money being used to rnow enovate the Old Courthouse (where I served as McHenry County Treasurer from 1966-1970). The mechanism will continue to … Continue reading
From Woodstock’s Susan Handelsman: Universal TIF District: If a municipality chooses to incorporate a TIF District there is little recourse under Illinois law to stop it. As Steve Willson’s seminal FOIA of a preeminent TIF consulting firm indicates (49 of … Continue reading
Scott Coffey, President of the Cary Grade School District, attended the Village of Cary’s Tax Increment Financing District meeting last week and offers the following account of what happened: I think I may have been the only elected official in … Continue reading
Tom Tresser offers the following: “TIF 101” and how to organize around them – 11/11 It’s the graph that explains how Tax Increment Financing districts work. I added the EXTRA descriptions. TIFs suck up property tax dollars and place them … Continue reading
A press release from the U.S. Attorney’s Office: Real Estate Developer Sentenced to Three Years in Federal Prison for Defrauding Banks and the City of Chicago CHICAGO — A federal judge today sentenced a Chicago real estate developer to three … Continue reading