By: Diane Benjamin
Uptown’s 3/31/2015 TIF report: Uptown TIF
This TIF was started in 2003 – remember who started it: A guy who owns a bike shop.
Click on any of the pics below to enlarge them.
Start with page 3:
- The beginning balance was zero. That means every dime generated in 2014 was spent. Most likely the income generated in 2014 didn’t cover the expenses.
- Since 2003, this TIF has only generated $7,192,512.
- From 4/1/2014 – 3/31/2015 only $1,436,575 was received, all but $44 was spent. $881,096 went to Bond Payments, $456,162 for Interest. (Pages 4-5)
- Taxpayers are still on the hook for $56,565,724
Now see page 6:
From page 10:
Where was the Public money spent? (Pages 10-11)
- Children’s Discovery Museum – 9 ,164,203
- Hotel & Parking – $28,233,536
- College Ave Parking Deck – $16,592,715
- Heartland Bank – $1,130,096
- Steinbach Inc – $395,063
- Hafner – $392,868
- JRH MRH – $522,980
Now see page 12:
Jump to page 70:
Page 51 has the minutes of the annual 2014 TIF Board minutes. See this statement:
Taxpayers in Normal get to pay a guy to manage Uptown:
The report for the year ended 3/31/2016 won’t be available for months.
Meanwhile the Normal City Council marches on with new projects. It’s about control. Chris Koos doesn’t believe America thrives when capitalism flourishes. He has killed it in Uptown and put up the citizens as collateral.