There was a small turnout at a special meeting of the Minonk City Council for a public hearing on the proposed TIF district #3 in Section Six north of Minonk.  The proposed TIF district will encompass 460 acres out of the 574 acres in the section which is the site for a proposed raceway complex. 

Bob Rychlicki, a TIF attorney from Kane and McKenna, explained the parameters of the TIF to those in attendance.  He explained that there have been no comments received from the taxing bodies affected by the TIF district.  There will be 7 tax parcels in the TIF district and the boundaries are fixed once the TIF ordinance is passed.  The TIF does not change any permits for zoning.

The maximum amount of money that can be spent within the TIF is $5,000,000 over the life of the TIF which is normally 23 years.  That does not mean that this amount has to be spent.  This is money that can be used to help spur development in the TIF district and can be used for site preparation and land acquisition.  An estimated $2,800,000 will be used to help development of the proposed raceway in Section Six.  The city will be in charge of all decisions in spending of money in the TIF district. 

There will be two plans to be implemented.  The TIF plan will be set by law once established.  The second plan is a Redevelopment Plan between the city and the developer of the land within the TIF district.  The TIF plan will go into effect September 6 when the city council passes the TIF ordinance.  After that the city can begin negotiations with the developer of the proposed raceway.  Mayor Bill Koos said that the redevelopment agreement will start from square one and that he and the council will attempt to arrive at an agreement that is fair to the raceway developers, the taxing bodies, and the City of Minonk.  The city has already invested $70,000 in the development of the TIF district according to Mayor Koos.

Minonk resident Gene Oncken asked how many acres are in the landfill that is located in Section Six.   He was told that there are 20 - 30 acres encompassed by the landfill.  The owner of the landfill, Waste Management, can only participate in the TIF if it will benefit the city.  The landfill will be included in the TIF and is considered a qualification factor for a parcel of land to become a TIF as is an underground mine or abandoned railroad tracks, all which reside within the proposed TIF district.

Alderman Steve Mattox asked what constitutes "breaking ground" in the development agreement.  The developer must either sign a developer agreement or put an infrastructure in place.  If there is no development plan after 7 years, the TIF is dissolved.

In addition to Oncken, other attendants to the meeting were Mr. and Mrs. Ron Seggerman, Mr. and Mrs. Barry Bennington, Ernest Froman, and David Timmerman.