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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Quincy School District gets more bad budget news from the State

2 years ago by Bob Gough

State cuts District's PPRT by more than $500,000

The Quincy School Board Finance Committee heard of some changes to the School District’s budget, which is scheduled to be voted on next week.

At this morning's meeting, Business Manager Joel Murphy said the State of Illinois has informed the District it will reduce its annual PPRT payment by $534,011, dropping the revenue to just under $3.9 million.

And the District is also seeing a $395,854 increase to employee benefits over the original estimates.

As a result, the District is cutting $364,005 from the Education Fund and from Capital. It is also reducing the amount budgeted for tuition and other payments by $230,566 and reducing the Operations and Maintenance budget by $207,215.

The district did receive an increase in federal revenues of $266,795, primarily from increases in Title I Funding.

The revisions put the 2012-2013 budget at $69.4 million. The budget will be voted on during a special Quincy School Board meeting at 8 a.m. on Wednesday, September 26 at the Board Office. The School Board will meet in regular session tomorrow at 7 p.m at Baldwin Intermediate School.

The District also has to put money into the self-insurance fund in order to keep the fund balance at $650,000, per the auditor’s recommendation. The Committee recommended moving $125,000 from the Education Fund, $50,000 from the Transportation Fund and $50,000 from the Building Fund to put the fund balance at that mark.

Murphy said the balances tend to be lower this time of year because many teachers wait until summer to have procedures done and they also get them in before October 1, which is the start of the new insurance cycle when deductibles reset.

The money is normally repaid from the self-insurance fund during the winter months.


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