A new Illinois law requires local governments with tax increment financing districts to show what they’re worth. Ottawa Economic Development Director Dave Noble says the law requires a count of how many jobs are created by the businesses in each TIF. And the extra information isn’t unusual.
Illinois Comptroller Susana Mendoza says there are more than 1,200 active TIF districts across the state. In them, some property tax money is diverted into funds that can be used to reimburse land and building owners for site improvements and local governments for roads and other infrastructure.