Monday’s city council Committee of the Whole (CoW) meeting includes this:
Consideration of a request by DeKalb School District #428 for TIF assistance in the amount of $2,000,000.
The assistance would go toward construction-related improvements to two schools that lie in Tax Increment Financing (TIF) districts, Founders Elementary and Clinton Rosette Middle School.
Here’s the thing: District 428 already gets a substantial portion of TIF funding, in the form of a surplus that is declared and distributed each year. What’s more, the surplus scheme was specifically engineered to a) make sure the big property tax players signed on to the amended, extended Central Area TIF of 2008, and b) to replace just this sort of intergovernmental agreement between city and school district. Read the rest of this entry