LaSalle News Tribune | LaSalle, IL
 
close
Due to weather related issues, in some areas there may be delayed deliveries of your Monday issue of the NewsTribune.
If road conditions are severe enough, your delivery person may not be able to deliver your NewsTribune at all on Monday.
In this case, your Monday edition will be delivered with your Tuesday newspaper.
We ask you to be understanding for the safety of our carriers.

You can view Tuesday's newspaper online at http://newstribonline.com
 


home : news : north central illinois   May 29, 2016

8/15/2014 8:07:00 PM
State extends life of Ottawa TIF 12 more years


NT Staff




OTTAWA — Ottawa’s North I-80 TIF district is getting a 12-year extension, effective immediately.

That was the word Friday from state Sen. Sue Rezin (R-Morris), whose office noted that the legislation was sponsored by Rezin and introduced by state Rep. Frank Mautino (D-Spring Valley) and signed by Gov. Pat Quinn on Friday.

“I’m very pleased to help the community of Ottawa continue this proven economic development tool,” Rezin said. “This will help local officials to bring even more new businesses and jobs to the area.”
The City of Ottawa established the I-80 North TIF District on Dec. 29, 1993. According to the 2013 Annual Financial Report on the TIF, the increment (the taxes captured by the city) was more than $2.5 million and the TIF has received $20.4 million in property taxes over its life. There was $2.2 million in the fund at the end of the reporting period.

“I was pleased that we were able to work together on this legislation in true bipartisan fashion,” Rezin said, referring to the bill pushed by her and Mautino.

According to an earlier News-Tribune report, the extension would mean $275,000 in revenue for the city’s general fund. The report also said the TIF district includes all of the properties within Ottawa’s business district north of Interstate 80.










Login to your account:
  Username:
  Password:
Remember me
Login reminder
  If you'd like to comment on this article, please log in or click here to subscribe.


 

Subscription Login
LOGIN | SUBSCRIBE






A Memorial Day more than 128 years in the making
Updated: 5/28/2016 2:52:00 PM
Juvenile taken to medical center after striking a train engine
Updated: 5/28/2016 1:19:00 PM
Graveyard rejuvenation
Boys State Track: Two 2A kids advance to finals
Briefs: Three Rivers softball releases all-conference
State police on the lookout for DUI and seat belt use


Illinois Valley Events
<
May
>
SMTWTFS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        



Photo GalleryVideo LibraryMagazinesDealsAbout UsAP Terms of UseAdvertise With UsExtra Content


Copyright 2016 NewsTribune, LaSalle, Illinois. All rights reserved.

Software © 1998-2016 1up! Software, All Rights Reserved