Breaking News Bar
updated: 3/5/2014 10:19 AM

Wheeling sharing TIF surplus with school districts

hello
Success - Article sent! close
 

Wheeling has declared a surplus in its South Milwaukee Tax Increment Financing district, which means one-time payments totaling $2.5 million will go to local governments.

Wheeling Township Elementary District 21 will receive $1.1 million; Northwest Suburban High School District 214 will get $562,369; and the village of Wheeling will get $275,375. Other local governments will receive smaller amounts.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

This is not a response to objections from the school districts and other governments to the village's plan to re-establish two of its TIF districts, extending their lives, said Village President Dean Argiris.

Village Manager Jon Sfondilis said the village board took this step because "it's the right thing to do. We recognize the burden on other taxing bodies."

He said the funds will not be needed for any foreseeable projects in that small TIF district, which encompasses an area along Milwaukee Avenue north of Chicago Executive Airport.

The village has spent funds from the TIF on engineering for vacant land, Sfondilis said, and has transferred funds from it to the Crossroads TIF, which is north of the South TIF, stretching past Dundee Road.

Sfondilis also said the village also is discussing plans with a developer for land it owns on the east side of Milwaukee in the South TIF.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here