Mayoral Candidate Calls for Report on TIF Appropriations

ROCKFORD - A Rockford mayoral candidate is calling for a review declaring whether tax increment financing revenues have been managed appropriately.
According to a press release, Michael Kleen, the Republican candidate in the race, says an audit is necessary after a recent controversy concerning the failed Midtown Lofts project. The Midtown Lofts used funds from the 7th Street TIF to create another TIF for that project. Over $1 million in tax money was taken in but the project was never finished.
"It seems clear, from what the local media has uncovered in regards to the Midtown Lofts, that there is little to no transparency or accountability when it comes to TIF projects," said Kleen in a press release. "The public deserves to know whether Rockford's TIF districts are delivering their promised results."


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
23 WIFR 2523 North Meridian Road Rockford, IL. 61101 Business: 815-987-5300 Fax: 815-965-0981 News: 815-987-5330 Fax: 815-987-5333
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 201929761 - wifr.com/a?a=201929761
Gray Television, Inc.