The committee of the whole voted Thursday to send a resolution to the Village Board that would permit the village to reimburse certain earlier expenditures from future tax increment financing (TIF) proceeds for the proposed East Army Trail Road redevelopment project area.
The resolution, described at the committee meeting as establishing the village’s “official intent” to reimburse qualifying project expenses from TIF proceeds if and when an obligation is issued, was referred to Community Development Director Jason Engberg for staffing and explanation and advanced by committee vote.
Why it matters: the procedural step would allow the village to record eligible expenditures made before a formal TIF district is adopted and seek repayment from TIF revenues later, rather than losing the ability to capture those costs for reimbursement.
What happened: Trustee Smith moved to send the resolution to the board “with a recommendation to concur,” and Trustee Leight seconded the motion. A roll call recorded unanimous support from trustees present and the motion was approved to advance the item to the board for consideration.
Discussion at the committee clarified that the measure is intended to permit the village or a developer to be reimbursed for expenses incurred before the TIF was formally created; committee members asked for the referral so staff can prepare the formal board item with supporting documentation.
Next steps: the resolution will appear on the board agenda for formal action. Staff will supply the board with details of the expenditures proposed for reimbursement and the legal documentation required by the village’s TIF procedures.
Meeting evidence: committee discussion began when the item was read into the record and referred to Director Jason Engberg; Trustee Smith moved to forward the resolution and the committee approved that recommendation by roll call.