TIF Facts Flyer
October 27th, 2006
You can download a PDF or Microsoft Word version of this flyer.
BE INFORMED
DON’T LET THE VILLAGE GIVE YOUR TAX DOLLARS TO
PRIVATE DEVELOPERS!
Before the Riverside Village Board allows the proposed downtown TIF (tax increment financing) district that induces high-density condo development to go forward, every resident should be aware of the impact it will have:
Higher Property Taxes
The TIF diverts all increases in property tax revenue within it’s boundaries away from the schools, and all other taxing bodies, into a Village-controlled fund typically used to aid developers. Property taxes may have to rise to make up the difference.
Eminent Domain Powers To Take Private Property
The TIF allows the Village to use eminent domain to take property in the TIF district and sell it to developers.
High Density Development
The Village policy of encouraging high-density development places strains on village services and may increase school class sizes significantly.
Be Informed
It is critical that we, the residents of Riverside, educate ourselves about the ramifications of a TIF.
Please visit these websites to learn more:
http://www.riversideinfo.org
http://www.ncbg.org/tifs/tifs.htm
