By: Diane Benjamin
Last night Normal voted to waste more taxpayer money on consultants. They already know they want an expensive underpass, but they are spending $1.4 million+ on another study anyway.
As of March 31, 2016: http://warehouse.illinoiscomptroller.com/LandingPage.cfm?code=064/095/31&searchtype=allunits&originalSearchString=Normal%20-%20a%20Town%20in%20Mclean%20County%20-%20064/095/31&CFID=11824458&CFTOKEN=2f4040be3c789a16-9F1393A4-5056-93B5-5E7A726C9A88D866
From the link above – click View Data – Indebtedness
2014 Total Debt: $86,788,630
2015 Total Debt: $94,084,399
2016 Total Debt: $99,974,191
Chris Koos sold this debt by declaring the increase in Property Values would pay for the bonds. TWO of his TIF districts had NO income last year. The Uptown TIF still hasn’t been posted on the Comptroller’s website.
Since the TIF’s are not producing income, where are the bond payment dollars coming from?
Your tax increases!
Almost $53 Million will be going to pay interest. Sustainable?
Not if you keep Koos as Mayor!
Term Limit Koos – get to know Marc. I will be posting more about him soon.