Letter: Yes, reform Illinois TIFS; here are some of the ways


Share
Posted Online: Feb. 03, 2013, 6:00 am
Comment on this story | Print this story | Email this story
A recent editorial called for Tax Increment Financing (TIF) reform. I could not agree more. Other states have stricter requirements that Illinois should emulate and adopt and therefore, better serve the taxpayers that provide the funds.

In order to strengthen public input, the public hearing must provide specific plans for the property. A second hearing is then needed to approve the development deal, protecting the taxpayers' interest.

Reporting requirements need to be structured in order to gauge effectiveness of the redevelopment plan. TIFs are all about job creation, and the number of jobs created should be viewed as one of several performance indicators. Failure of the developer to meet performance requirements should result in dissolution of the district.

Annual reviews for over-lapping taxing bodies should be consistent in format from year to year in order to easily track success or failure.

Developers should have to provide proof that they cannot obtain private financing. This requirement would demonstrate a true need for public funds and remove any doubt of the "But, for" test.

Joint Review Boards should have defined rules as to quorums, meeting notifications, and responsibilities.

The number of conditions needed to qualify as "blighted" should be increased to a majority. This will ensure that "blight" does actually exist, and that the TIF is warranted.

Finally, the term limits should be drastically reduced. Asking school districts, overlapping taxing bodies and the taxpayers to be patient and make sacrifices for 23-35 years is too much.

Anybody agree?

Sandy O'Neill,
Moline

















 




Local events heading








  Today is Wednesday, Sept. 17, the 260th day of 2014. There are 105 days left in the year.
1864 -- 150 years ago: We are told league merchants have paid no attention to the prohibition on selling ammunition, but continue to sell just as before the order was issued.
1889 -- 125 years ago: The Rev. R.F. Sweet, rector of Trinity Episcopal Parish, left for the East to visit his boyhood home in Boston before attending the general convention of the Episcopal Church in New York.
1914 -- 100 years ago: Dr. E.A. Anderson was named to succeed Dr. E.L. Kerns as head physician of the Modern Woodmen of America, and moved to Rock Island from Holdingford, Minn.
1939 -- 75 years ago: One week late, because of the outbreak of war, Dr. E.L. Beyer resumed his work as professor of romance languages at Augustana College. Dr. and Mrs. Beyer left Germany on the last train to the Belgian border.
1964 -- 50 years ago: Employees in Turnstyle stores in Moline and Davenport will vote Oct. 2 in an election set up by the Chicago regional office of the National Labor Relations Board. Employees will vote either for the Retail Clerk International or for no union.
1989 -- 25 years ago: Rock Island High School is considering a step to help teen moms stay in school and get their diploma. The school board is expected to vote tonight on instituting an on-site child care center.




(More History)