The Moline City Council will hear the first reading of ordinances creating two new tax-increment-finance districts at tonight's city council meeting.
The city is proposing a TIF district for SouthPark Mall and another for 42 acres at U.S. 6 and U.S. 150, near the Coal Valley border.
When a TIF is formed, the assessed land value is frozen and any tax revenue generated by new development goes into a tax fund to be used on improvements within the district or on rebates to developers.
Taxing bodies continue to receive property taxes based on the assessed land value before the TIF was created, until the TIF expires. A TIF can last 23 years and be extended another 12 years with the approval of state legislators.
The council also will hear a first reading on the proposed $14.6 million tax levy which, if approved later this month, would be the same as last year.
The TIF ordinances and tax levy are expected to be voted on by the city council on Nov. 27.
The city council is expected to vote on a one-year contract extension for city administrator Lew Steinbrecher that includes a 4 percent salary hike. Mr. Steinbrecher's base salary would be $148,174, and the city would contribute $602.79 to his retirement account every pay period, or $15,672 a year, for a total of $163,846.
Under his last contract, Mr. Steinbrecher's total salary and retirement contribution was $157,544.In 2011, he received a 2.2 percent raise.
The contract would be retroactive to Oct. 25. The new contract would expire Nov. 30, 2013.
Employees in the four city unions and nonunion employees received no general wage increase this year. However, all city employees except Mr. Steinbrecher were eligible for a 2.5 percent anniversary wage increase or a lump-sum payment.
The city council meeting starts at 6:30 p.m. on the second floor of city hall, 619 16th St. The city council meeting immediately follows.Agendas are available at city hall or moline.il.is.
Today is Wednesday, March 12, the 71st day of 2014. There are 294 days left in the year. 1864 -- 150 years ago: Soldiers from the barracks on the Arsenal manage to elude the vigilance of the guard nearly every day and come to town armed. In the hands of excited and perhaps intoxicated men, these weapons are dangerous. 1889 -- 125 years ago: Manufacturing's merchants and professional men of Moline were petitioning the Western Union Telegraph company to establish a telegraph office in the business area of the city. 1914 -- 100 years ago: Three Rock Island students, the Misses Eleanor Cleaveland, Dorothy McCabe and Ruth West, escaped injury when fire destroyed College Hall at Wellesley College in Massachusetts. 1939 -- 75 years ago: The Daughters of Union Veterans of the Civil War gave a party for William H. Stremmel, the only survivor of John Buford Post 243, GAR. 1964 -- 50 years ago: The East Moline Grade School Board of Education last night granted salary increases totaling about $47,000 to teachers and staff members. 1989 -- 25 years ago: Five champion spellers from the Rock Island/Milan School district were selected after competition this week at Modern Woodmen of America. Winners are Sarah Cottay, Christopher Gilbrich, Jared Vogele, Kedric Roper and Kenny Stevenson.