The Villages of Bourbonnais and Bradley have recently created two  large TIF districts.  This means any businesses who choose to build in these areas will have their annual property tax payments diverted from area school districts and all other taxing bodies to the Village government where the TIF district is located.  The Village government will then return the money back to the business developers through many subsidies.  

 

Most of the business development is retail.  Retailers are coming here to benefit from the growth.  They can not serve this market place unless they are here.  Their is no reason to create TIF districts to divert their property tax money away from schools for up to 23 years so retailers can be subsidies.

 

With no support from these developments, schools then look to present homeowners and businesses to pay the full costs of the bricks and mortar for new schools that will be needed for the same growth the retailers are here to benefit from.

 

What can be done to minimize the effect of this TIF on homeowner property taxes?  Our answer is the elementary school districts and BBCHS must sit down with the Villages of Bradley and Bourbonnais to work out a plan whereby the villages will make annual payments, to the school districts, of the property tax money being diverted away from the school districts to the Village government which in turns gives the money back to commercial developers.