By: Diane Benjamin
The Bloomington Council meeting was ridiculously long. Council discussion were not the reason. More on that later (maybe).
Nothing is ever on the Bloomington council agenda that is not going to pass. Details and discussion take place in 3 on 1 meetings because appearing united is vital.
The Downtown Southwest TIF was passed in 2016. It has produced NO private investment after the City invested $139,690 for Front Street repairs. The purpose of a TIF is to spur private investment, this TIF didn’t. See the State report in this story: https://blnnews.com/2024/07/08/why-doesnt-bloomington-just-tif-the-whole-city/
The TIF was dissolved last night to incorporate it in the new TIF. The new TIF includes the property the City bought on North Main for $1.4 million. It has been for sale for years without a buyer in sight. https://blnnews.com/2024/02/19/connect-the-dots-3/
WEEK did a story last night about the TIF and public comment: https://www.25newsnow.com/2024/07/23/bloomington-city-council-approves-funding-plan-downtown-facelift/
The Council approved the TIF, not funding for it as the title implies. Otherwise the story accurately describes what happened. The funniest comment was from Tim Tilton:
From the story:
Tilton said creating the TIF won’t raise property taxes, it will generate private investment, add new jobs and retain existing jobs. It will broaden the tax base, stimulate investments outside the TIF district and make for more locally-controlled development, Tilton also said.
A piece of paper doesn’t generate private investment as evidenced by the 2016 TIF. If this TIF does generate private investment Tim’s property taxes will go up because the value of whatever properties he owns will increase.
Just the small investment on Front Street raised the EAV – from the report:
The above shows the purpose of TIF’s. The City gets to keep the difference in property taxes between the old and new value. District 87 has a carve out since they think families will be living in their district inside the TIF.
Patrick Hoban, executive director of the Bloomington-Normal Economic Development Council also spoke. He used Uptown as an example of what TIF’s can do. He missed that many of the buildings in Uptown were built with federal grants. Many are owned by the Town of Normal. 2 developers backed out of building to complete the circle. He also didn’t mention Normal taxpayers get to pay off the debt because the TIF didn’t produced enough income.
Tim Tilton is at 1:10:30, Patrick Hoban at 1:22:15.
The Tiltons have been government grifters ever since they came to BN. They have always had their hand out using government money to improve their business and residence. Tim hasn’t worked a real job since his wife started Fox and Hounds while Vicki isn’t much better having her employees do the heavy lifting. Two liberals living the high life on the taxpayers dime and the labor of others. Of course, the local Clique considers them community leaders. Two more reasons why BN never goes anywhere.