Tag Archives: TIF’s

Does the Freeport Mayor Want The Fifth Third Bank Building for His New Home?

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Mayor Gitz said in his weekly column in the Journal Standard on July 13, 2014 that the MetLife Building is too big for city hall, and he does not want it off the tax rolls! Surprise! When did a Mayor of Freeport or the present city council get concerned about taking buildings off the tax rolls. Wake up Freeport! Every TIF in Freeport takes property off the tax rolls. The Fifth Third Bank building, if acquired by the city, will take a property off the tax rolls to the tune of $65,455.94. I guess $65,000 does not count! Just shift more taxes to the homeowner and the few remaining small businesses in Freeport. Oh by the way, before city acquires any more buildings, let’s deal with the existing buildings that it owns. It takes a lot of nerve to talk about buying more buildings when the city cannot even maintain its existing buildings.

TIF, TIF, TIF – That is the Question! Public Hearing at Freeport City Council Meeting Tonight, July 7, 2014 on New Meadows TIF.

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The meeting will begin at 6:00 pm in the City Council Chambers at 524 West Stephenson Street, 3rd Floor. If you have Comcast Cable, go to channel 17 to watch live.

The major item on the agenda is the public hearing on the new Meadows TIF (Tax Increment Financing District) consisting of 173.5 acres. A TIF creates funding for public or private projects by borrowing against the future increase in property tax revenues. Every TIF shifts the tax burden to home owners and small businesses since any increase is property tax revenues will be used to subsidize businesses in the TIF. Freeport has many TIF’s established to help such diverse areas or businesses as downtown Freeport, Walmart and Menards, and Heritage Woods on Pearl City Road. A TIF will only last 23 years, and then they will again start contributing their share of real estate taxes! Freeport has lots of TIF’s.

For the Project Plan and Eligibility Report, go to http://www.ci.freeport.il.us/departments/Freeport%20RPA%20Meadows%20TIF%20Public%20Draft_05-09-14.pdf

Other items on the agenda:

New equipment for the Fire Department:

Approval of bid from Bocker Auto Group for $32,251.31(with trade) for 2015 red Chevrolet Tahoe

Requesting action from the City Council to waive the formal bidding process and approve the purchase of a new PUC fire engine from Pierce Fire Apparatus, Appleton Wisconsin in an amount not to exceed $540,000 financed over a period of 60 months.

Update from Community Development Director on transit phone system. Listing of bid amounts at http://www.cityoffreeport.org/OrdRes/DH%20RPT%20Cell%20Phone%20Quotes%2020140707.pdf

For the complete agenda, go to

Click to access A20140707.pdf