MORRIS – The Morris City Council approved two ordinances Tuesday that will redistribute some tax increment financing district funds. A total of just over $488,000 will be redistributed from the city's two TIF districts.
When a TIF district is formed, a fund is created by the municipality. Tax revenue from land-value increases on properties caused by development within a TIF that otherwise would have gone to school districts, county government or other local taxing bodies instead goes to the TIF fund. That money is then used to pay for incentives and infrastructure upgrades to attract businesses to a blighted area.
Through agreements made when Morris formed the district, some of the money in the TIF fund will be redistributed to taxing bodies. For example, the arrangement out of TIF 1, which includes parcels bordering Routes 47 and 6, along with areas in the downtown, has the city of Morris keeping 50 percent of the fund, 40 percent being distributed to the school districts, and the remaining 10 percent declared a surplus and divided up among all of the taxing bodies.
TIF funds can only be spent on certain projects, including most infrastructure and capital projects. The 40 percent of TIF distributed to area school districts needs to follow the same guidelines. The 10 percent share, however, is declared a surplus and can be spent however the tax body chooses.
Out of the Marina TIF district, which occupies an area east of town between the railroad tracks and the Illinois River, the 30 percent being distributed is being declared a surplus. It is a significantly smaller portion, however, totalling just over $2,000.
The distribution is something the city does every year, Mayor Dick Kopczick said.
The council approved requests for the Morris Lions Club to hold their annual Easter Egg Hunt beginning at 10:30 a.m. on Saturday, April 20, in Goold Park; for the Morris VFW to hold their Poppy Days event on April 26-27 and May 4; and from the Grundy County Health Department to block School Street between Union Street and Park Boulevard to hold their annual AnyBODY 5k from 7:30 a.m. to 1 p.m. on Saturday, Aug 3.
The council approved a request from Life Church Morris to block East Jefferson Street from Liberty to Franklin streets so the church can hold their annual barbecue competition.
The council approved an agreement with APTIM for landfill gas monitoring and annual Environmental Protection Agency greenhouse gas reporting, for a total cost of $28,335.