Moline School Board discusses TIF districts


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Posted Online: Oct. 09, 2012, 9:47 pm
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By Nicole Lauer, correspondent@qconline.com
Moline school board members on Tuesday got a glimpse of two proposed tax-increment-financing districts.

School district Chief Financial Officer Dave McDermott told board members city officials want to know if the school district wants the former Horace Mann school building included in the first TIF district located at U.S. 6 and 150.

The proposed district includes commercial, light industrial and open space or drainage. If the TIF is created, assessed property values would be frozen, and tax increment created by new development can be used by the city to make improvements in the designated land district or give rebates to developers.

Mr. McDermott said school districts can lose tax dollars when TIF districts are formed. But he also noted, if the proposed district included the former Horace Mann building -- no longer used for classes and not in the district's future facilities plan -- the city could help market the site. Mr. McDermott also said a buyer may find the property more desirable with a TIF district that could help defray the cost of tearing down the building or filling in some of the swamp area behind it.

The city doesn't need the school district's input to create the TIF district, Mr. McDermott said. He said school administrators have discussed the idea and think it would help to include Horace Mann. Board members supported the plan and learned the Moline council may discuss the TIF district on Oct. 23.

Board members also reviewed a second proposed TIF district, the SouthPark Redevelopment Project Area, which includes SouthPark Mall and the surrounding area. Mr. McDermott said this was the first time city officials contacted the school district about the proposal, although school administrators had learned about it through the media or other sources.

The proposed TIF district, he said, is intended to stabilize the area's tax revenue, which has declined from a $50 million valuation to $38 million or $39 million.

Board members did not weigh in on this proposal.

In other business, school board members heard a representative from the audit firm of McGladrey report that a review of the district's financial standing had no findings of concern.




















 



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  Today is Wednesday, April 23, the 113th day of 2014. There are 252 days left in the year.

1864 — 150 years ago: Some persons are negotiating for 80 feet of ground on Illinois Street with a view of erecting four stores thereon. It would serve a better purpose if the money was invested in neat tenement houses.
1889 — 125 years ago: The Central station, car house and stables of the Moline-Rock Island Horse Railway line of the Holmes syndicate, together with 15 cars and 42 head of horses, were destroyed by fire. The loss was at $15,000.
1914 — 100 years ago: Vera Cruz, Mexico, after a day and night of resistance to American forces, gradually ceased opposition. The American forces took complete control of the city.
1939 — 75 years ago: Dr. R. Bruce Collins was reelected for a second term as president of the Lower Rock Island County Tuberculosis Association.
1964 — 50 years ago: Work is scheduled to begin this summer on construction of a new men's residence complex and an addition to the dining facilities at Westerlin Hall at Augustana College.
1989 — 25 years ago: Special Olympics competitors were triple winners at Rock Island High School Saturday. The participants vanquished the rain that fell during the competition, and some won their events; but most important, they triumphed over their own disabilities.




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