Will County
Illinois

Will County Resolution
19-75

Authorizing the County Executive to Sign Letter of Support for the Village of Romeoville and the County of Will Extending the Downtown Romeoville TIF District

Information

Department:County Board AdminSponsors:
Category:Misc. Will County

Body

WHEREAS, the Village of Romeoville created a Tax Increment Allocation Finance District in 2005 known as the “Downtown TIF” pursuant to and  in conformance with the Illinois Municipal Code, specifically 65 ILCS 5/1-74.4-1 et seq. (the “TIF Act”); and

 

              WHEREAS, the Downtown TIF is set to expire on January 9, 2028; and

             

              WHEREAS, in order to consider long-range plans, the Village of Romeoville is requesting the support of the Will County Executive and Will County Board for the extension of the Downtown TIF term by an additional 12 years; and

 

              WHEREAS, the Will County Board Executive Committee supports the request by the Village of Romeoville.

 

                NOW, THEREFORE, BE IT RESOLVED, that the Will County Board does hereby authorize the Will County Executive to execute a letter of support for the Village of Romeoville and Various Taxing Districts concerning the Village of Romeoville Downtown TIF District.

 

              BE IT FURTHER RESOLVED, that the Preamble of this Resolution is hereby adopted as if fully set forth herein. This Resolution shall be in full force and effect upon its passage and approval as provided by law.

 

Meeting History

Mar 14, 2019 10:00 AM  WC Executive Committee Board Agenda Setting Meeting

Mr. Palmer stated this TIF was established in 2005 and will expire in 2028. Due to the recession in 2007-2012 they lost some opportunities. They have seen nearly $20 million in investment thus far. They are asking to extend the life of the TIF. They cannot do unless they come to the taxing bodies. We are the last of the two, which needs to either support the extension or say we are not opposed. You don’t have to be in support, you need to just say you are not opposed. Then the Village will ask the General Assembly to take action. There is a time element. They will extend the life of the TIF and can continue with further development. A description of the TIF area was given. The Marquette TIF runs off in 2023 and we will begin receiving the full benefit of those improvements. At the end of the TIF you hope to see economic development and EAV growth to benefit all the taxing bodies.

Mrs. Ogalla asked if the TIF expires in 2028 why do we need to extend it now?

Mr. Steve Gulden replied we have to make long term decisions on redevelopment, either through bonding or borrowing dollars. We need to ensure the long term financial income from the TIF and we are asking for the TIF now. A listing of the recent improvements was given. Without the TIF those improvements and developments would not happen. We are trying to make long term decisions to keep the momentum going and we need the revenue stream. Currently we have three TIF areas; Marquette TIF, Independence TIF and the Downtown TIP. We did that strategically because you can import dollars from one TIF to another.

Mr. Palmer stated with permission of the Committee, we would like to sign the letter of support. There are some sensitive deadlines coming up with the General Assembly. There doesn’t seem to be any controversy and with the expectation the Board will approve the Resolution, can we send a letter today? This will be a letter or support or non-opposition. The General Assembly will still have to take action. If something changes there will be time to voice concerns.

RESULT:MOVED FORWARD [UNANIMOUS]
MOVER:Jim Moustis, Member
SECONDER:Tyler Marcum, Member
AYES:Denise E. Winfrey, Mark Ferry, Herbert Brooks Jr., Mike Fricilone, Kenneth E. Harris, Tyler Marcum, Donald A. Moran, Jim Moustis, Judy Ogalla, Laurie Summers, Jacqueline Traynere
Mar 21, 2019 9:30 AM  Will County Board Recessed Meeting

Member Ogalla stated I just wanted to make a comment that I will support extending this TIF. When I’m out in my community talking to residents and everybody, they’re always talking about the TIF district and their job is not being able to go to things like the school district and things like that. I think we need to have a conversation about that, how long we want to allow TIFs to go on because I know the local residents typically are not in favor of the TIF to start with and then it continues to go on further.

Member Ventura stated in response to Member Ogalla’s comment, I understand what you’re talking about and I do want to make sure our schools are getting the funding they needed but also it’s been shown that most districts, and I don’t want to say specifically for this one, that those schools make up more funds in the three years after the TIF than they would have during the 23 years that it was delayed so they are receiving that (inaudible) money but then because of the growth, the increase they get on the back end oftentimes more than makes up for the time they didn’t. I don’t know about that specifically but I do know that’s the idea of why it works.

RESULT:APPROVED [UNANIMOUS]
MOVER:Denise E. Winfrey, Speaker, District 8 (D - Joliet)
SECONDER:Donald A. Moran, District 3 (D - Romeoville)
AYES:Judy Ogalla, Laurie Summers, Amanda Koch, Jim Moustis, Donald A. Moran, Beth Rice, Kenneth E. Harris, Jacqueline Traynere, Gretchen Fritz, Meta Mueller, Donald Gould, Joe VanDuyne, Steve Balich, Mike Fricilone, Herbert Brooks Jr., Denise E. Winfrey, Annette Parker, Rachel Ventura, Gloria Dollinger, Tyler Marcum, Julie Berkowicz, Mimi Cowan, Tom Weigel, Mark Ferry, Tim Kraulidis
ABSENT:Ray Tuminello