Crete-Monee School District 201-U would like University Park to dissolve its TIF V to allow for about $4.5 million to $4.8 million annually of tax dollars to go toward the school district for a new stadium.
Crete-Monee School District 201-U officials are asking University Park to dissolve a tax increment financing district before the end of the year so a portion of the tax money can be used to build a stadium. The school district would like University Park to dissolve its TIF V to allow $4.5 million to $4.8 million annually of tax dollars to go to the school district, said Ken Surma, assistant superintendent of business and operations.
The rest of the funds would go into the district’s operating funds and toward a preventive maintenance plan for the district’s buildings, Surma said. Mayor Joseph Roudez and village manager Elizabeth Scott did not respond to requests for comment. Roudez told the Village Board Sept. 12 that dissolving the TIF district would benefit the village because it would see an additional $3 million annually. “That would open up our budget to address some things we need addressing,” Roudez said.
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