By: Diane Benjamin
Yesterday I showed how Normal’s Uptown TIF is most likely not generating enough TIF money to cover expenses: https://blnnews.com/2016/07/26/more-uptown-tif/
Here’s more proof:
The 2014 TIF report shows some sharing of revenue with other taxing authorities: Page 5 ftp://ftp.illinoiscomptroller.com/LocGovTIF/FY2014/06409531/14TIF06409531Downtown_volpment.pdf
The 2013 TIF report also shows sharing taxes: Page 5 ftp://ftp.illinoiscomptroller.com/LocGovTIF/FY2013/06409531/13TIF06409531Downtown_volpment.pdf
The 2015 TIF report doesn’t show ANY tax sharing. If the TIF agreement provides for tax sharing, in 2015 payments came out of the General Fund instead of the TIF.
If Chris Koos decides NOT to run again, it tells me he has ran out of other people’s money.
With Dick’s Sporting Goods moving out of Normal and eventually Kroger, the sharing of Sales Tax will be back. Koos thinks Bloomington residents should pay for his utopian dreams.
I think I need to file some FOIAs.
2 thoughts on “UpTown broke?”
Is it NO WONDER that UPTOWN is broke? #1 Normal plaza, the UPTOWN logo, the street signage, the old rt 66 gas station, the “Transportation hub” , etc, etc, WHAT has UPTOWN done to MAKE MONEY other then the status quo? THAT is NOT progress, and Bloomington is “Monkey see, monkey do”, and I call them BOTH BAD MONKEY!
And Chris, Mitsubishi leaving is going to cut into your budget, so you MAY want to let TARI know about the “Ripple down effect”.
Failing to see the national and world economy around them but instead to continue to spend with reckless abandon Koos has put the town of Normal into a deep financial hole that will take years to climb out of. There is not enough coming down the pike to see light for years. Tino Tari is well on his way to doing the same to Bloomington.