The meeting started with public comments. The board was asked what CBD improvements the TIF/SSA/tax increase/general obligation bonds would fund, and the response was that this would be discussed later in the meeting. The board was also asked if any studies had been done as to what would be a reasonable to expect for an increase in either sales tax or property tax revenues to the village as a result of the improvements the village wants to make. The board's response was that no studies have been done on those issues, and that the improvements contemplated by a TIF are to make the CBD more enjoyable and aesthetically pleasing (Katy's words, more or less). Katy also said they would never expect the CBD to generate significant sales tax revenue.
Trustee Smith spoke about the ordinance concerning the reconsideration of the B-2 zoning and the requirement for the first floors of the CBD be used for commercial development only. His rationale for this referendum question is that he felt that those who are anti-TIF seem to be very concerned about the impact a TIF would have on the schools, and allowing residential-only development in the CBD would maximize revenues/EAV and give more money to schools. Smith also said that he wants a better sense of what the voters want to do with downtown -- maybe residents don't want businesses downtown, just residences.
The next referendum question discussed were the general obligation bonds. These would be used to make "basic fixes" to infrastructure in the CBD. The figure cited was $10MM for projects such as:
- sewer improvements
- Centennial Plaza
- Parking and street improvements
- Streetscape/landscape
- Water line improvements
- Signscapes
- Shoreline enhancements
The $10MM does not include other things that have been proposed, like the community center, wi-fi, traffic management, etc.
The Special Service Area (SSA) was discussed next, then the property tax increase. Much less discussion about these two issues.
I believe I heard Trustee Gustafson say that the discussion of these referenda items were purely a reaction to the TIF referendum question that was submitted, and that the board should wait until they start their financial planning to consider these other options.
The village could put 2 of the options on the April 17th ballot.
First item put to a vote was the general obligation bonds. Gustafson, Scanlon, and Smith all voted no, so it was defeated (they needed 4 yes votes, and Scully was absent tonight).
Reconsider zoning & commercial requirements: passed, with Grace, Scanlon, Smith, and Wiaduck voting yes.
SSA failed, as no one seconded the motion to vote on it.
Property tax increase question passed, with Grace, Scanlon, Smith, and Wiaduck voting for it.
So there will be 3 referendum questions on the April 17th ballot:
1. TIF: yes or no?
2. Reconsider the B-2 zoning and eliminate the requirement for first floor of CBD only being commercial space?
3. Should a property tax rate increase be proposed to support CBD improvements?
It was a very interesting, and in some ways, enlightening meeting. I was surprised that after 2-3 months of not being able to articulate what the $20MM in TIF money would be used for, the board came up with $10MM worth of infrastructure improvements that they wanted to fund.
And this is essentially how they are framing the TIF/CBD funding issue now: how can the village pay for all of these improvements? It's no longer about attracting development, it's about paying for infrastructure and, per what I heard Katy say tonight, making the CBD look nice and making it walkable.
Anyone else who was there, what did I miss in this write-up?