Yesterday there was a lot of news coverage about Chicago’s forecast inability to finish its planned Tax Increment Financing (TIF) projects now that property tax revenues are down. Coincidentally, I’ve been peering at DeKalb TIF funds recently, looking for the same kind of trouble. Fund 63 is the DeKalb TIF fund that pays for development…
Winnebago Forest Preserve Power Struggle Continues
In a continuation of this story, Winnebago Forest Preserve District president Randy Olson has created and staffed a public safety job without the approval — and indeed in defiance of — a majority of the board. And, it appears the move might even be legal: Olson’s authorization of the hire is a rare move in…
Corn Fest Financials Through 2010
DeKalb Corn Fest was lucky to have funds in reserve when it moved from the downtown to DeKalb Taylor Municipal Airport in 2008. [table id=60 /] Except for the “Lady Antebellum boost” in 2009, revenues have been trending downward. Revenues are no longer itemized on the tax forms, so we don’t know which categories have…
No Task Force, No Public Input Allowed at Council’s Special Meetings on Housing Issues
[Updated with link 5:30 p.m.] The DeKalb City Council is planning three special meetings on housing issues, scheduled as follows: Wednesday, Aug 22 at 6 p.m. Wednesday, Sept 19 at 6 p.m. Wednesday, Oct 10 at 6 p.m. The meetings will not include Safe/Quality Housing Task Force members except as members of the audience who…
Progress at the Airport
I decided to see if DeKalb Taylor Municipal Airport has made progress in growing its non-governmental revenues now that it has added fuel sales and new tenants. Below is a table showing the primary revenue category, rentals, along with the newbie, fuel sales. These are not the only non-governmental revenues, but the remainder combined don’t…
Alorton & Open Meetings Act Do-Overs
Back in February I alerted you to the resignation of the mayor of Alorton, because it seemed the investigation and scandal had something to do with Tax Increment Financing (TIF). Turns out it had little if anything to do with TIF and a lot to do with shakedowns at traffic stops. Now Alorton is back…
Winnebago Forest Preserve Board Smacks Down Perceived Abuses by Its President
Four Winnebago Forest Preserve Board commissioners — a majority — are accusing the board president of misusing a closed session meeting in an attempt to create a new position. Chuck Sweeney examines the letter the commissioners sent to board president Randy Olson: First, it says, “We believe the Board was placed in jeopardy by using…
DeKalb’s Airport as a Grant Funding Priority
Was the Daley Policy Group initially hired just to get money for the DeKalb Taylor Municipal Airport, or are airport grants simply the low-hanging fruit in DC? Over the past 20 years: At least 20 separate airport projects were funded, compared to seven non-airport-related projects $28.6 million, which is 68% of the total grant/earmark dollars,…
Poll: Video Gambling in DeKalb?
DeKalb has specifically outlawed video gambling for a long time, but on Monday, the city council will begin considering an ordinance to allow it. Please take the poll at right and leave a comment here (or at the Facebook page) that explains your answer if you wish.
DeKalb’s Pension Funding Progress
The Comprehensive Annual Financial Report (CAFR) includes a table called “Schedule of Funding Progress” for each pension fund that the city is responsible for. An actuary determines the fund assets and liability, and from these are calculated the percentage that the fund is funded as well as the unfunded liability in dollars. I’ve pulled numbers…