Decatur’s 7 TIF’s

By:  Diane Benjamin

Decatur is on a calendar year.  Information for 2018 has not been filed with the Comptroller’s office.  The information below is from what was filed as of 12/31/2017.

Decatur has 7 TIF districts.  It does not appear any of them were started when Tim Gleason was City Manager.  The dates below show what year they were set up.

The theory of TIF’s is to create a greater taxable value in a specific area of town that is blighted.  Investments are made and supposedly paid back by the difference in taxes paid pre-investment and post investment.  The City keeps the income, other government agencies don’t share in the profits for 23 years or more if the TIF is extended.

Only 2 of Decatur’s 7 TIF’s had a positive fund balance at the end of 2017.  The people of Decatur should ask their City Council who is covering the losses?

The citizens of Bloomington need to keep their eyes open since Decatur’s guy is now running Bloomington.  It does not appear that any of the TIF’s were dissolved when Gleason was City Manager there.

FYI:  California banned them mostly because of corruption:  https://www.planningreport.com/2014/07/24/demise-tif-funded-redevelopment-california

Decatur 7 TIF

Eastgate Commons Fund Balance  (-$96,315)  Eastgate_Commons_1

Olde Towne (-189)  Olde_Towne__1

Southeast Plaza  $45,775  Southeastlaza_TIF_1

Near North TIF Fund Balance (-$63,139)     Near_North_TIF_1

Pines Shopping Center  (-74,662)  The_Pines_1

Southside $39,744  Southside_1

Grand Avenue  (-126,885)  Grand_Avenue_1

 

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