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Thursday, July 3, 2014
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Spring Valley seeks TIF extension By Goldie Currie gcurrie@bcrnews.com
SPRING VALLEY — The Spring Valley City Council plans to seek an extension for its TIF (Tax Increment Finance) District, which is scheduled to run out in 2029. An extension would allow the city to keep its TIF an additional 12 years and serve the maximum 35 years. A TIF is a method of using future gains in taxes to subsidize current improvements, which are projected to create the conditions for said gains. The city can use its collected TIF funds for a variety of improvement projects within the district including demolition of a building, rehabilitation of a structure, prepping a site to build infrastructure, pay for engineering costs, etc.
The city’s last TIF collection carried a gross increment of about $470,000, which about 20 percent was committed to local school districts. A map highlighting Spring Valley’s TIF District can be found on the city’s website. The council invited attorney Herb Klein to last Thursday’s committee meeting to talk more about how to proceed with an extension. Klein explained how the process to get an extension is different than establishing the TIF. When seeking an extension, the ultimate decision-maker is the legislature in Springfield. The process involves introducing a bill and getting it passed by the House, the Senate and ultimately signed by the governor.
“The practice of the legislature in Springfield is they will not introduce a bill or seek a TIF extension if any of the taxing bodies are in opposition,” Klein said. “Ideally, (the taxing bodies) will write a letter stating they are in support of the extension.” Spring Valley would have to get support from three school districts, Illinois Valley Community College, the Bureau County Board and the township. Klein said there have been a number of communities in the surrounding area that have gotten a TIF extension, including Ohio, Oglesby, Ottawa, Morris and Mendota. He said the county board supported the Ohio extension, and IVCC has a history of supporting TIF extensions.
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Weathering the weather
The price of throwing that $teak on the grill
By D onna B arker
By G oldie C urrie
Storm blows through Bureau County dbarker@bcrnews.com
PRINCETON — Area residents and communities are still cleaning up after severe storms hit Bureau County and the Midwest earlier this week. On Tuesday, Bureau County Emergency Management Agency Director Keenan Campbell said the biggest issue throughout the last few days has been the torrential rainfall. Lightning is always a concern, but people also have to be aware of traveling on roads which may be flooded in places. The ground is saturated, and that can cause flash flooding. When drivers come to flooded areas on roadways, the best thing to do is to follow the old saying, “Turn Around and Don’t Drown,” Campbell said. As people clean-up from this week’s storms, as well as other storms, they need to be mindful of being outside and how to safely remove debris from their property, the Campbell said. Standing water is a concern because it could be energized by electrical lines, he said. Sheffield and south to Buda seemed to take the brunt of the Monday night storm with straight line wind damage, Campbell said. News 8 Chief Meteorologist James Zahara said a new record rainfall was set during Monday’s storm with the area receiving 5.11 inches of rain during the 24-hour period. The previous record
Weather Page 4 Year 168 No. 79 Two Sections - 32 Pages
gcurrie@bcrnews.com
BCR photo/Donna Barker
Knee-high for Nedda! Happy Fourth of July! The old saying about the corn crop, “Knee-high by the Fourth of July,” was a sign that told farmers it was going to be a good crop, if the corn reached one’s knees by Independence Day. The corn crop at rural Princeton resident Nedda Simon’s farm must be a bumper crop. Simon, who stands a proud 4 feet, 9 inches tall, will attest to that!
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PRINCETON — In the midst of prime grilling season, shoppers are seeing historic high prices in the meat and dairy sections at their local grocery stores. According to the American Farm Bureau Federation’s (AFBF) most recent Marketbasket survey, prices of meat and dairy-related items have climbed anywhere from 6 to 11 percent compared to last year. Scott Sabin, owner of Wyanet Locker, Inc., confirmed meat prices are the highest he has ever seen and gave reason behind the increase. The No. 1 reason he mentioned first is the summer season. “We’re in the middle of steak season, and that’s a big reason prices are so high right now. Roast prices are actually down because that’s a meat most people eat in the winter,” he said. From Mother’s Day to Memorial Day to Father’s Day and Fourth of July, everyone is getting together and planning cookouts with family and friends. With big holidays just weeks from each other in the summertime, it leaves no time for burger and steak prices to decrease, Sabin said. Other reasons behind high prices are the current shortage of cattle due to the drought and the high demand of corn-fed beef being shipped to Europe. “Until they get the herd built back up, prices won’t chance much,” Sabin said. “They’ll go down a little after the steak season but still remain higher than they’ve been in the past.” The prices, however, don’t seem to be affecting the meat business too much. “If people are going to the store
Meat Page 4
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