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- An estimate of the assessed valuation after redevelop- <br /> ment. <br /> The financing component should be carefully thought out with <br /> cost estimates of all proposed public expenditures associated <br /> with the project, including property acquisition, demolition, <br /> planning and engineering, public improvements, and project ad- <br /> ministration. Also assumptions must be made on the anticipated <br /> tax increments to be received and possible other financing <br /> sources should be identified. <br /> A public hearing must be held prior to the adoption of or- <br /> dinances designating the TIF area and approving a redevelopment <br /> plan and project, or adopting TIF. Besides publication, notice <br /> by mail must be given to property owners within the TIF and <br /> notice by certified mail to all local taxing districts which levy <br /> taxes in the TIF and to Illinois DCCA. <br /> Due to the risk of whether or not enough additional incre- <br /> ments in taxes will be forthcoming, few, if any, TIF projects in <br /> Illinois have attempted to sell TIF revenue bonds . Rather they <br /> have used Municipal General Obligation Bonds which the City must <br /> pay back regardless of the tax increment value in the district. <br /> Recently the TIF law was amended to also allow the local and <br /> state sales taxes or utility taxes to be used in connection with <br /> a TIF project. To obtain full benefit of the sales tax, incre- <br /> ment of retailers would be having new retail establishments build <br /> or move into the TIF area who are not now doing business in the <br />