Aledo TIF requirements to be overhauled
TIF parameters should be finalized by Thursday, thanks to some outside help. A Tax Increment Financing meeting is set for 6 p.m. Thursday at Aledo City Hall, 120 N. College Ave.. On the agenda with presentations are Nancy Hill, of Ehler's and Associates, a Chicago firm that consults with municipalities on TIF matters and Tom Henderson of the Illinois Tax Increment Financing Association, an Illinois non-profit that has resources for its members on TIF matters.
The agenda has an open time for public questions and comments, as well as an item to finalize (TIF) parameters. That means the TIF committee will recommend to the Aledo City Council guidelines for future TIF grants and loans.
The city has an additional 11 years on its TIF financing, before TIF ends and all taxing bodies can begin to reap the benefits of TIF projects that occurred over the previous 35 years.