The Danville District 118 School Board heard a presentation at the end of Wednesday night’s (Aug 5th) meeting that brought about a feeling of, “hey, wait a minute, what about us?”
Interim Finance Director Todd Pence gave a breakdown of how much revenue District 118 misses out on due to the five active Tax Increment Financing (TIF) Districts in both Danville and Tilton. Simply put, a TIF District, usually lasting 23 years, freezes the Equalized Assessed Valuation (EAV) amount within the district for determining what amount all property tax entities like District 118 take in; while taxing revenue from increased EAV gets reinvested within the district, often to current or incoming businesses for growth and improvements.
Pence says that’s like asking a household to not adjust how much they spend for 23 years. And then, the TIF districts can be extended for 12 years, or new TIFs can be created; creating a constant cycle of missed revenue.
What Pence, Superintendent John Hart, and the School Board would like is a pair of intergovernmental agreements, both with Danville and Tilton, allowing District 118 to receive 25% of the revenue they would have received without the active TIFs. This would be for both new TIFs, as well as for the remainder of current TIFs. Pence says that 25% over the next two years could mean $5 million for District 118.
Board member Christopher Easton says sure, school districts want strong cities; but cities should want strong school districts; with everyone on the same team. But Easton also knows, this will be a challenge.
AUDIO: The TIF districts are a tool that have been given to them by the legislators, and the thing that were asking for, though it’s not unusual, it’s not necessarily common.
(First) Christopher Easton offers input during financial discussions (Second) Nathan Wahl thanks those who have helped him since his arrival at South View (Third) Superintendent Hart officially asks for the name change at Mark Denman School (Fourth) Todd Pence discusses the TIF District issue.
Superintendent Hart says, he is optimistic.
AUDIO: We do want our towns to grow. We’re just hoping that we can reach an agreement where we can utilize the tax money that we’re all bringing in to do what’s best for the whole community, including the school districts.
Pence says the idea is going to be; meet with Danville’s Mayor Williams and Tilton’s Mayor Wear, explain their intergovernmental agreement proposals, and hopefully get on future Council meeting agendas.
AUDIO: It’s a great revenue source for the municipalities. But the impact it has on the other taxing bodies as they continue to grow; it also compounds our financial issues. There’s a big enough piece of pie there that we can all benefit from the growth.
Meanwhile, District 118 has hired Nathan Wahl as the new Assistant Principal of South View Upper Elementary School. Wahl, coming down from Rantoul to take the position, says he likes the feeling in District 118.
AUDIO: It’s easy to feel comfortable here because it’s more of a family than it is a business. Everyone here is kind, open, receptive, and eager to help and support.
Also, the District 118 Board has officially changed the name of Mark Denman Elementary School to the Mark Denman Early Learning Center.
