Winfield planners send TIF map to council
By Kitty Conley firstname.lastname@example.org January 15, 2013 12:32PM
This map outlines Winfield's first Tax Increment Financing district, which will allow the Redevelopment Commisssion to capture property taxes within the district. | Photo Provided~Sun-Times Media
WINFIELD — The Redevelopment Commission, the Plan Commission and the building department, working with the town attorneys have created a map outlining the town’s first Tax Increment Financing district.
If this map is approved by the town council at its Jan. 22 meeting, it will allow the Redevelopment Commission to capture property taxes within the TIF district.
The owners of taxable property will pay the same taxes with or without a TIF district. The payment will still go to the county and then be distributed as to the regulations of the TIF. The state has changed its statutes, and the school corporation will still get its part of the tax payments. But the other parts of government that receive money from those taxes, now will not receive any payment. Those funds will all go into to the Winfield Redevelopment Commission TIF fund.
The Redevelopment Commission is limited on where it can spend that money. It can be used for infrastructure and other items that will benefit the TIF district. This can in the future be used on main roads that serve the district, but not on interior roads that exclusively serve residential subdivisions.
Winfield, at under 20 years old, is getting into the formation of a TIF district ahead of other communities in the area, who had to play catch up with their infrastructure improvements.
According to Councilman David Anderson, who is overseeing the updating of new computers and programs for the town, the new program that the town will be using will have each of the taxpayer ID numbers of the parcels of land that are within the TIF. This will make it much simpler for the clerk-treasurer’s office to be able to monitor tax payments to the county within the new TIF district.
As is now required by the state, the Redevelopment Commission has a member of the school board as an ex officio, or non-voting, member. In the case of Winfield, that member is Tom Hoffman.