June 6, 2024 Minutes - Joint Review Board
EAST DUBUQUE JOINT REVIEW BOARD
261 Sinsinawa Avenue
East Dubuque, IL 61025
Thursday
June 6, 2024
10:30 am
1. Call to Order
Start Time: 10:30 am
Present – Brian Gomoll, Dan Dalberg, Darren Sirianni, John Lang, Diane Gallagher, Matt Keegan, John Digman and Bob Seitz
2. Public Comment
No public attended the meeting.
City Manager Seitz gave an overview of what is going on with the TIF Districts and what is coming up in the future. With the 2025 budget we will have restored 90% of the TIF funds in the space of a year and a half. With the second dispensary he says we should have all restored all of the TIF funds. This leaves us with what we will do with the funds. Purpose is to grow the economy base of the City. We have some exciting things on which we are working. Downtown Sinsinawa Ave. we have been able to bring in what is going to be a million-dollar investment which has not happened since City Hall and Auto Shop across the street was built. We are reaching the end of these TIF’s with the downtown and route 35 ending in 2031, 2032 and 2034 for Hwy 20. One of the big things we are looking at doing is façade improvement. We are in talks with other opportunities for the other TIF areas.
3. Discuss April 30, 2023 Downtown TIF Annual Report
Matt Keegan went over the reports that they received. We are looking at the last year. This is the oldest TIF which is done in 2031. Then he went through the pages of the report.
Asked if this group needed to say or do something about the spending of money. The expenditure of funds is a City Council thing. This is where the council approves the expenditure of money. The board is just for being informed of what the activities that are being spent on. This is their voice to tell the city what they think they need to be spending the money on.
It is not a real deficit; it is a budget amount you can spend. It is what you are allowed to spend but you do not need to spend all of it. Anything left will be sent back to the taxing district. What you see being paid back each year is the offset of their property tax. They will bring in their property tax paid and then they will get a portion of their property tax back for a certain amount of years.
You need to spend the money before the TIF expires. Public infrastructure is a cost that can be used by TIF money. People want to spend money when the outside looks good.
When using TIF money can the city also do a match. It depends on the agreement, but they are only allowed to do what is in the TIF account.
4. Discuss April 30, 2023 Rout 35 TIF Annual Report
Asked if there were any questions for this report and went through the pages quick.
5. Discuss April 30, 2023 Hwy 20 TIF Annual Report
Asked if there were any questions for this report and went through the pages quick.
The Budget is online and there is an expenditure line for all three TIF’s, you can see what is happening.
For the school they do not get the current benefit.
Has the City been asked to develop another TIF. Not that we are aware of. Looking at the maps it does not look like much of the city is left to even have another TIF. There is the possibility of extending to 35 years the TIF’s date but that requires the legislature to pass it. This would be an amendment that needs to pass through legislation and then is signed by the governor.
City Manager Seitz wanted to make it clear that the city is not looking into extending any of the TIF districts.
You cannot use the Enterprise Zone and TIF together.
6. Adjourn
End Time: 11:26 am
John Lang motioned to adjourn second by Diane Gallagher
Pam McCarthy
City Clerk, East Dubuque
