Tax Increment Finance Joint Review Board Meeting

Minutes of Special Meeting TAX INCREMENT FINANCE JOINT REVIEW BOARD Date: Tuesday, June 21, 2022 Time: 3:00 p.m. Place: Urbana City Council Chambers MEMBERS PRESENT: Hon. Diane S. Wolfe Marlin, Mayor, City of Urbana Darlene Kloeppel, County Executive, Champaign County Michelle Wright, Finance Director, CUMTD Wayne T. Williams Jr., Assessor, Cunningham Township Dr. Jennifer Ivory Tatum, Superintendent, Urbana School Dist. #116 John Baker, Dir. Of Business, Finance & HR, CC Forrest Preserve STAFF PRESENT: Stepheny McMahon, Economic Development Supervisor Darius White, Economic Development Coordinator OTHERS PRESENT: Katie Rowland, Chief Financial Officer, Urbana School District #116 Adam Stroud, PGAV Planners I. CALL TO ORDER Mayor Marlin called the meeting to order at 3:10 pm., and a quorum of the Joint Review Board members was declared to be present. II. ROLL CALL OF TAXING DISTRICT REPRESENTATIVES AND PUBLIC MEMBER Roll was called with the members listed above all present. III. APPOINTMENT OF NEW PUBLIC MEMBER The public member invited to attend did not show up. IV. OVERVIEW OF JOINT REVIEW BOARD RESPONSIBILITIES Mr. Stroud of PGAV Planners presented an overview of the responsibilities of the TIF Joint Review Board VI. PRESENTATION REGARDING THE 2022 TIF PLAN AMENDMENT Mr. Stroud of PGAV Planners presented the proposed amendment to the Central TIF District and that the City is asking to add a small privately owned parcel of land to Central TIF so that it will be contiguous with TIF 4 when TIF 2 expires at the end of 2022. Mr. Stroud also pointed out that the proposed amendment updated the TIF budget that was originally created in 2016 so as to reflect inflation. VII. DISCUSSION AND RECOMMENDATION OF THE JOINT REVIEW BOARD TO THE COUNCIL Dr. Ivory Tatum asked what the consequence would be if the amendment is not recommended and the parcel of land is not added to Central TIF. Mr. Stroud responded that Central TIF and TIF 4 would not be contiguous and therefore, the City would not be able to port funds between the two TIF Districts. A motion was made by Ms. Kloeppel that the TIF Joint Review Board recommend that the City Council adopt the 2022 amendment to the Central TIF Redevelopment Area as written. The motion was seconded by Dr. Ivory Tatum The motion passed unanimously. VIII. PUBLIC COMMENT There was no public comment. IX. ADJOURN JOINT REVIEW BOARD MEETING The meeting was adjourned at 3:22 pm by Mayor Marlin Respectfully submitted, Stepheny McMahon, TIF Administrator