Monee Dissolves TIF District 3, Transfers $1 Million Surplus
Village of Monee Board Meeting | October 8, 2025
Article Summary: After more than 23 years, the Village of Monee has formally dissolved Tax Increment Financing (TIF) District 3. The board approved ordinances to declare a $1 million surplus and transfer remaining funds to the contiguous TIF District 5 to support ongoing development projects.
TIF District Restructuring Key Points:
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Surplus Declared: The board passed Ordinance #2097 declaring a $1 million surplus from TIF District 3.
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Funds Transferred: Remaining funds from TIF 3 were transferred to the contiguous TIF District 5.
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TIF 3 Dissolved: Ordinance #2098 was adopted to formally collapse TIF District 3, which has reached the end of its lifespan.
The Monee Village Board on Wednesday, October 8, 2025, took legislative action to close the book on one of its long-standing economic development tools while bolstering another.
Village Attorney Larry Gryczewski presented a series of ordinances to wind down TIF District 3, noting it has been in place for over 23 years.
“At this point in time, we can dissolve that TIF,” Gryczewski told the board.
The process involved three steps. First, the board unanimously approved Ordinance #2097, declaring a surplus of $1 million from TIF 3. Next, trustees authorized the transfer of the remaining funds from TIF 3 to TIF District 5. Gryczewski explained that because the districts are contiguous, the village is permitted to transfer funds for related projects.
Finally, the board adopted Ordinance #2098 to formally dissolve TIF District 3. This strategic financial maneuvering ensures that development funds remain available for the active TIF District 5, which covers key industrial and commercial areas still under development.
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