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Downtown Redevelopment Project Area 2 Minutes 2017 12-12-17Page 1 of 1 UNITED CITY OF YORKVILLE DOWNTOWN REDEVELOPMENT PROJECT AREA #2 Tuesday, December 12, 2017 6:00pm Council Chambers City Officials in Attendance: Attorney Kathleen Orr Alderman Ken Koch Senior Planner Jason Engberg Alderman Chris Funkhouser Alderman Carlo Colosimo Guests: Tyler Beckham, WSPY Andres Beltran, Kendall County Shawna Jonikas Mara Ljubisa Zivkovic Susan Lambke Bruce Killian Aivaras Janikus Tony Scott, Kendall County Record Introduction of Speakers & Proposed Project Area and Redevelopment Plan Ms. Orr called the meeting to order at 6:02pm. She gave an explanation of TIFs and said they were established to incentivize growth. Ms. Orr assured the attendees that the City would not take anyone's property by force/eminent domain. Since there are more than 75 residences in the TIF area, the law requires the City to share information about the TIF. Examples were also given about how TIF dollars can be used. Ms. Orr said that more meetings will be held with residents and with the taxing bodies. A future Public Hearing will also be held and all residents within 750 feet of the TIF will be notified. She stated two important rules: TIF dollars cannot be used for new construction and the property tax rate will not change unless improvements are made on the property. The meeting was turned over to Mr. Engberg at this time and he gave a detailed presentation of how a TIF works, the history and various criteria for using TIF dollars. Citizen Comments There were some audience questions which were answered by Ms. Orr and Mr. Engberg. Adjournment Another meeting will be held on January 9, 2018. The meeting adjourned at 6:41pm Minutes transcribed by Marlys Young, Minute Taker