Bismarck considers use of TIF

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September 15, 2009

BY KIM LUTTRELL The Commercial-News Tue Sep 15, 2009, 09:45 PM CDT

BISMARCK — Village board members Tuesday approved the formation of a committee to consider the best way to use the tax increment financing funds the village has accumulated.

Currently the TIF account has a balance of $17,000. TIF funds can only be used in the designated TIF district from where they were collected and can only be used to fund certain items.

Mayor Eleanor White will name members to the committee at a later date.

In other board action, trustees:

-- Approved the reappointment to the planning commission of: Diane Hagley, Nancy Kuras and Cathy Sackett all to three year terms.

-- Approved the placement of two warning signs on Wilson Lane to warn motorists of obstructions on the shoulder.

-- Heard a presentation from Mike Atchison of the Illinois Municipal League Risk Management Association on the village’s insurance coverage. The IMLRMA carries workman’s compensation as well as property and liability insurance coverage for the village.

-- Approved a float to be entered in the Bismarck-Henning High School homecoming parade to carry the winners of the beautiful yards program.

-- Also approved a village float to be entered in the homecoming parade. Village board members and employees will be handing out Census 2010 materials.

-- Approved a proclamation requested by the Governor Bradford Chapter of the National Society of the DAR setting Sept. 17-23 as Constitution Week.

-- Tabled action on a proposal for a new paving design for the school crosswalk on Holloway Street.

-- Set trick or treat hours as 4-8 p.m. Oct. 31.

NEXT UP

The Bismarck Village Board will meet at 6:30 p.m. Oct.20 in the Bismarck United Methodist Church annex.

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