TOLONO — A decision on whether to approve tax increment financing for a fire department building project has been postponed for the fourth meeting in a row.
The Tolono Fire Protection District has asked for $250,000 up front and $125,000 per year to build a new fire station on the east side of town.
At the village board's Oct. 15 meeting, representatives from the Economic Development Group and from Jacob & Klein, the sister companies in Bloomington that serve as Tolono's TIF consultants, presented figures indicating that there was an ending TIF fund balance of $790,822. The village board then agreed to give the Tolono Public Library $50,000 in TIF funds to replace the building's leaking roof.
The next day, though, numbers were revised to show that only $360,089 was actually available.
Trustee Kent Plackett said the village would be unable to make the $125,000 annual payments the fire department is seeking.
He said if the village waited until 2022 to grant the fire department's request, the TIF money would have time to accumulate.
Trustee Mike Golish said if the village gives money to the fire department now, it would have no money left for any sanitary sewer repairs, for example, and would be forced to raise residents' bills.
Trustees agreed they wanted to be sure of how much TIF revenue was available before making a decision on the fire department's request.
"Let's get accurate numbers we can count on," Plackett said.