Monday, March 17, 2008

Where is TIF Excess Money Going???

The Insider has learned that Maywood and other surrounding communities are sitting on millions of excess dollars that can be used to support our financially strapped schools. According to sources, Maywood is sitting on $11 million in excess TIF revenues alone. However, the Village refuses to comply with state law and call meetings to discuss the TIF money, and they refuse to return the excess to the Cook County Assessor's office so the money can be redistributed to schools, parks and other taxing bodies within the district.

Why are Maywood village officials ruining our schools?

3 comments:

Reporter said...

The schools have the right to sue.

Anonymous said...

The Village has an obligation to comply with the TIF laws, including having an annual meeting and issuance of a report. Absent that the Schools and any other taxing district could sue to get the surplus funds.

Anonymous said...

Does Bellwood have a surplus?