PEORIA, IL -- A special meeting of the Peoria District 150 School Board on Dec. 18 was set up for the board to approve bonds and hear a couple of presentations.
I was the only person to comment. I updated the board on the Peoria City Council's proposed use of TIF or tax increment financing funds, to buy the Detweiller Playground property. The council voted on Dec. 12 to spend $225,000 to buy the land, to replace land in Riverfront Park that would be lost to the proposed apartments.
The TIF funds come from property taxes diverted into a city slush fund, which deprives the school district of revenue, about half of the total. Here is what I told the board:
The Peoria City Council last week voted to spend $225,000 in TIF funds to purchase property to replace land lost to the apartment project in Riverfront Park.
On Jan. 9 they will vote on amending the budget to spend this money. It takes a 2/3 vote, and last week they didn’t have it. One vote stalled the purchase. You need to act to keep it that way.
You can ask that District 150 be sent its percentage of that $225,000, about half of that total.
The TIF funds are actually money was taken from property taxes that should have gone to District 150 and other taxing districts including the park district. It’s no wonder you have a deficit, when the tax funds that should be going to you are diverted into what critics call a city slush fund.
If the council votes to spend $225,000 to buy replacement land – land that floods -- that money is also lost forever to District 150. And under the TIF District rules the apartments won’t generate any property taxes for you two decades.
The apartments can be built elsewhere without a TIF district to help. That would preserve the park for future generations, as well as for today, and free up your funds to go to you. Demand it!
If you know council members who are still supporting the apartment project please talk with them and ask them to end the proposal for apartments in the park, and send District 150 its percentage of the TIF money. - 30 -
In response, board members discussed the TIF issue and said they have asked for TIF money in the past, without much luck. Most of what they said could not be heard.
Here is a recording:
-- Elaine Hopkins
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