Wednesday, Oct 1, 2014
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qfingers - Mayor Moore discusses Newcomb proposal - Quincy, IL News - QuincyJournal.com
It's not tax abatement...it's a tax refund which is a financing tool. And there's lots more than what is listed on your link It's a rather long section of 65 ILCS 5/11-74 http://www.ilga.gov/legislation/ilcs/ilcs4.asp?Ac...
Givemeliberty - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
The pill Hobart is wanting the city to take would be easier to swallow, if they were bringing American Family, AT&T, Motorola, or something like it to fill up this building with 300-400 Jobs. Sadly though projects like the one I just described or the Newcome Lofts will only come to this area with help from the City or County (not saying the city should give in to all of Hobarts demands) because the…
UrKidsWillPay - Mayor Moore discusses Newcomb proposal - Quincy, IL News - QuincyJournal.com
The TIF district does not include a Property Tax abatement. Those are features of the Enterprise Zone which this site is not a part of. Would like to know how we are going to force that one through against our rules.....not that I doubt they will do it. Take a look at the eligible TIF expenses and tell me where they are going to lie to us to classify 1.8 million of a 4 million project as TIF eligible.…
UrKidsWillPay - Quincy Police Blotter for September 30, 2014 - Quincy, IL News - QuincyJournal.com
Could be or it could be for a burnout. which could be defined as unsafe because you lack complete traction. Or it could be for accelerating too fast but not buring the tires and without going over the speed limit. or she could have exited a private drive like the bowling alley without properly yielding.
qfingers - Mayor Moore discusses Newcomb proposal - Quincy, IL News - QuincyJournal.com
Just remember that getting taxable property there doesn't bring in any extra $$ for the city. What it does is lower property taxes for the rest of us. Obviously more $$ back for more expensive properties (i.e. same % saved across the board). By the same token the TIF district raises our taxes until such time as the TIF expires. That's because some of the tax $$ are diverted to a special…

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Illinois dodges extra mortgage guarantee fees

9 months, 3 weeks ago Chicago Tribune

High level of foreclosures helps means state doesn't meet criteria

From Chicago Tribune:

The Federal Housing Finance Agency is increasing the guarantee fees that Fannie Mae and Freddie Mac charge for mortgages they acquire, but Illinois will not be assessed an extra fee because of the high level of foreclosure activity in the state.

A year ago, the agency, which oversees Fannie and Freddie, proposed maintaining an extra guarantee fees in five states -- Illinois, Florida, Connecticut, New Jersey and New York -- that had extra-long foreclosure processing times. The FHFA said the extra ‘adverse market’ fees on newly acquired mortgages were necessary to cover the extra costs of managing the foreclosure process in some states. The fees were first put in place in all states in 2008.

On Monday, the FHFA announced it would increase all guarantee fees by an average of 0.14 percent on a typical 30-year, fixed-rate mortgage and by 0.04 percent on a 15-year, fixed-rate mortgage.

In addition, mortgages acquired in Florida, Connecticut, New Jersey and New York will carry an extra guarantee fee of 0.25 percent. Illinois, the agency said, does not meet the revised criteria for the extra fees.

Click Here to Read Full Article


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