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Aledo TIF stirs talks at council meeting


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Posted Online: Dec. 04, 2012, 9:13 pm
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By Pam Berenger, pberenger@qconline.com
ALEDO -- Two tax increment finance district ordinances between the city and Krstic Realty triggered discussion before council members approved grants of up to $25,000 each for life safety and building code upgrades.

Ald. Barry Cooper, 3rd Ward, said he was troubled by three apartments behind one storefront business. Mr. Cooper said he understood TIFs should be used for business projects, not residential.

City Attorney Mark Walton clarified TIFs could be used for improvements to properties with living spaces.

Ald. Tab Balmer, 1st Ward, said his opposition was because work already was started when the application was made.

"I despise this thing," Mr. Balmer said. "Why are we giving away grants instead of granting loans?"

Aldermen also approved a TIF grant application for up to $25,000 from Michael D. Clark, president of MDC Ventures, to complete life safety and building code upgrades.

In other business, the council:

-- Approved selling a 1996 Ford Mustang GT Coupe it had seized. The minimum sale price is $2,500.

-- Approved a tax levy of $365,000, or $8,421 less than last year's levy of $373,421. Aldermen also approved a 2013 budget of $5,871,128, or $152,188 lower than last year's budget of $6,023,316. At the last council meeting, city finance director Sarah Bohnsack said one reason for the decrease was an anticipated decline in equalized assessed valuation, from $39 million last year to $36.5 million.

















 




Local events heading








  Today is Saturday, Aug. 30, the 242nd day of 2014. There are 123 days left in the year.

1864 — 150 years ago: A large pair of elk, captured in Iowa, were exhibited in Market Square today.
1889 — 125 years ago: The Rock Island Arsenal dam was being constructed under the supervision of Charles Frances, of Lowell, Mass.
1914 — 100 years ago: Mrs. Frank Mixer, of Rock Island, was the winner of the final preliminary for the women's handicap golf cup at Rock Island arsenal links.
1939 — 75 years ago: Sixteen hundred persons — many from war-fearful Europe — arrived in New York aboard the German liner Bremen. For two days on the trip, passengers were cut off from the world with both incoming and outgoing radio messages banned.
1964 — 50 years ago: Police reported five youths have been involved in the theft of about seven cars in recent weeks. Three of the youths were arrested Saturday afternoon, one was in custody as the result of a previous arrest, and the fifth is expected to be arrested today.
1989 — 25 years ago: The Rock Island/Milan School Board is asking the city to tear down Franklin School and allow the school district to pay back the estimated $100,00 cost during 10 years.






(More History)