Fisher OKs third tax-increment district

Fisher OKs third tax-increment district

FISHER — This Champaign County village now has a third tax increment financing district.

The Fisher Village Board this week passed the three ordinances necessary to create it and a fourth ordinance that amends the TIF I district because some land was taken from it and moved into TIF III.

The area consists of 40 acres, mostly farmland, north of U.S. 136 and immediately west of the Heritage Estates residential subdivision that lies within TIF District I. It also includes what would be phase five of the current subdivision and land to the south of the highway where the school district athletic fields are. The latter two parcels have been moved from TIF I to the new district.

Land located to the immediate north of the highway could be used for commercial development, most likely retail. But Mayor Milt Kelly has also said the primary purpose of the new district is to create new residential areas. Lots in the first four phases of Heritage are all sold and building is ongoing in the fourth phase.

Also the board voted to certify for the April election a ballot item asking residents if they wish to participate in electric aggregation. A representative from Integrys, a third-party electric supplier that already supplies Champaign, St. Joseph, Vermilion County, Paxton and Chicago, addressed the board. The company promises substantial savings over current Ameren rates.

 

 

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