The Cambria Village Board will vote Thursday on a proposed residential Tax Increment Financing District.
Village President Steve Gottschalk says this will help Cambria improve its infrastructure, streets, water and sewer lines.
"Basically for new properties built, the taxes are frozen and that continues to go to Williamson County, our taxing body. Then, the difference between the renovated property, the new tax, comes to the village of Cambria and we put that into a TIF account."
The Joint Review Board - made up of taxing bodies that could be affected by the proposal - said no to it in a non-binding vote.
Carterville Community Unit District 5, which includes Cambria, opposes the plan. Superintendent Keith Liddell says about 55-percent of local tax dollars currently goes to the school district, but that would not include properties built within the TIF district.
"Any residential property that would be included in a TIF area and constructed after the TIF went into effect, any improvement in that base property area, all of that money, instead of going 55-percent to the school district, 100 percent of that money would go to the TIF district."
Gottschalk says the village has offered the school district 15-percent of the revenue from the TIF district and a developer has decided to chip in another 10-percent...putting Cambria in line with Carterville and Crainville. The school board will vote on the proposal Wednesday evening during a special meeting at 6 p.m.
Gottschalk says the Village Board's vote is not a done deal.
"They have been considering the input from all residents within Cambria and also the people from Carterville have tried to influence them also. So, the decisions are not final as I know of right now."
The Village Board meets at 4 p.m. Thursday.
