The Bond County Community Unit 2 Board of Education has yet to make a decision on the City of Greenville’s request to support the possible extension of the Downtown TIF District.
The school board met in special session last Wednesday and talked extensively about the matter. Another special meeting, with that on the agenda, is scheduled for this Wednesday, October 13 at 5:15 p.m.
The city is hoping to extend the TIF District 12 years to 2041 to provide continued benefits to a developer who has indicated he would build a multi-million dollar development in downtown Greenville. The developer has indicated the project is only feasible with a longer TIF district.
While some school board members are concerned the TIF, or tax increment financing district, leads to a loss of tax revenue, Board Member Aimee Frey noted that the tax money said to be lost wouldn’t have been there without the TIF.
City officials have reported many businesses currently in Greenville would not have opened here without a TIF district.
Frey voiced her support for the letter of support to the city.
A motion to have a Unit 2 committee, consisting of the superintendent, board president and vice president, meet with city officials to discuss TIF numbers and report back at this Wednesday’s meeting, was approved 5-1. Frey voted “no” and Stephanie Gerl was absent.
At this time, the City of Greenville has letters of support from eight of the nine taxing districts in the city. The city wants to submit the letters to local legislators for the fall veto session later this month.
Legislation must be passed by the House and Senate to extend the TIF district.
The Bond County Unit 2 school board meets in special session at 5:15 p.m. Wednesday, Oct. 13, in the high school library.
The board’s Facilities and Transportation Committee and Finance Committee will meet early in the session.
Items for possible action include the City of Greenville’s request for support to seek an extension of the Downtown TIF District, a state maintenance grant, and considering the hiring of non-certified personnel.