Sunday, November 06, 2005
Special Service Area Assessments Not Even Considered for Financing Crystal Lake TIF District Area Improvements
The 1970 state constitution specifically allowed for Special Service Area Assessments.
What are they?
Think of them as a mini-special tax districts.
When a specific benefit is needed for an area, the city council can enact a special tax for those who will benefit from the improvement.
In explaining the Vulcan Lakes project on Route 14, Brown described the envisioned development will contain commercial, recreational, and residential elements “that would have a water access benefit.” Such redevelopment would be “reoriented to the lakes” from the current orientation to Route 14.
Michelle Rentzch, Planning and Economic Development Director for Crystal Lake, added that “high-end retail” was expected. In addition, half-million two-bedroom condos are proposed.
From this description, it would seem that a Special Service Area Assessment would be a perfect compromise. Those most benefiting from the improvements would be able to pay for it. Those least benefiting from the redevelopment, homeowners and businesses outside of the TIF district would pay nothing.
But, Rentzch downgraded the idea.
“The majority of the property owners might not agree,” Michelle Rentzsch, Planning and Economic Development Director, commented. “Nor maybe does it make sense,” she continued. (In an SSA, the majority of the property owners within the area must approve of the addition property tax.)
“Then, maybe it shouldn’t be done,” Cal Skinner replied.
Likewise, the Main Street proposal’s benefits would accrue to the property owners in the proposed TIF district.
There is nothing like specific the entertainment district that the City talks about creating on Route 14. All the public can expect to see soon is a “streetscape” similar to that in Downtown Crystal Lake.
To return to the main blog, click here.
# posted by Cal Skinner : 9:34 PM 0 comments
What are they?
Think of them as a mini-special tax districts.
When a specific benefit is needed for an area, the city council can enact a special tax for those who will benefit from the improvement.
In explaining the Vulcan Lakes project on Route 14, Brown described the envisioned development will contain commercial, recreational, and residential elements “that would have a water access benefit.” Such redevelopment would be “reoriented to the lakes” from the current orientation to Route 14.
Michelle Rentzch, Planning and Economic Development Director for Crystal Lake, added that “high-end retail” was expected. In addition, half-million two-bedroom condos are proposed.
From this description, it would seem that a Special Service Area Assessment would be a perfect compromise. Those most benefiting from the improvements would be able to pay for it. Those least benefiting from the redevelopment, homeowners and businesses outside of the TIF district would pay nothing.
But, Rentzch downgraded the idea.
“The majority of the property owners might not agree,” Michelle Rentzsch, Planning and Economic Development Director, commented. “Nor maybe does it make sense,” she continued. (In an SSA, the majority of the property owners within the area must approve of the addition property tax.)
“Then, maybe it shouldn’t be done,” Cal Skinner replied.
Likewise, the Main Street proposal’s benefits would accrue to the property owners in the proposed TIF district.
There is nothing like specific the entertainment district that the City talks about creating on Route 14. All the public can expect to see soon is a “streetscape” similar to that in Downtown Crystal Lake.
To return to the main blog, click here.
# posted by Cal Skinner : 9:34 PM 0 comments
# posted by Cal Skinner : 4:23 PM
