A tax increment financing district in Oglesby is no more. The City Council dissolved TIF number five where the SuperValu grocery store is on the north side of Richard Moyle Highway west of Interstate 39.
The city and state created the TIF in 1996. TIFs have 23-year life spans, and that one expired last year.
The City Council’s vote to dissolve it means it can be taken out of the ordinance books, off the maps, and out of the city’s accounting system. Any money left in it will go to neighboring TIFs.