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Annual Tax Increment Finance (TIF) Report

Within 180 days after the end of each fiscal year, or as soon thereafter as the audited financial statements become available, the Village must submit its annual TIF report to the Illinois Office of the Comptroller. A TIF Joint Review Board meeting must also be conducted annually.

Included with the annual TIF report is a report on compliance with subsection (q) of Illinois Compiled Statutes 65 (ILCS) 5/11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) as prepared by the Village’s independent auditors. 






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