![]() Documents estimated the arrangement could net the district $300,000 a year. ![]() The school district instead will receive 10% of the new TIF district's incremental property tax as surplus. Inglese said the city of Aurora owns the TIF parcel included in the new TIF and it is not generating revenue for the school district.ĭistrict 101 also will not receive property tax revenue from the property for a minimum of 23 years - the TIF's life span - with the potential for a longer time frame if the TIF is extended, documents said. "You wouldn't do an NDA in a public school district. We're not approving an NDA (nondisclosure agreement)," Inglese said. "We're approving an intergovernmental agreement. ![]() ![]() "This casino TIF will pull a series of parcels out of TIF 7 as it exists and turn it into this new Farnsworth, Bilter TIF," Batavia Chief Financial Officer Anton Inglese said.ĭocuments said the agreement required that the board "refrain from actions or statements that could jeopardize the new TIF initiative." ![]()
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