Board Update 10/23/17
October 25, 2017
Agenda Item 4.0
Public Hearing on 2017 Tax Levy – 4.01
The board of education discussed and directed the administration to move forward with preparing the 2017 tax levy and to set the public hearing date for November 27, 2017. The state’s Truth in Taxation Law requires if an estimated levy exceeds 105% of the prior year’s extension, the district must give public notice and hold a public hearing on its intent to adopt an aggregate levy. While District 59’s proposed levy does not meet this 5% level, the administration believes that meeting the spirit of the law provides the community transparency and an opportunity to provide feedback on the levy.
Adoption of 2017 Tax Levy – 4.02
The board of education discussed the proposed total levy in the amount of $80,500,000 for 2017, which is 3.83% above the 2016 extended levy of $77,531,030. This amount is to be distributed in the district’s funds as indicated in the Certificate of Tax Levy. The board will vote on a resolution to adopt the levy at the December 11, 2017, board of education meeting.
Authorizing Reduction of Certain Fund Levies For The 2017 Tax Levy – 4.03
The board of education discussed the upcoming resolution to provide direction to the County Clerk on how the individual fund extensions should be assigned based upon final determination of our allowable extension. As the County Clerk will automatically add on a 3% lost cost factor to the District’s levy, this resolution directs the County Clerk to first reduce the individual extension to no less than the original levy, and then to apply any further reduction to the Operations and Maintenance (Building) Fund.
Agenda Item 6.0
Preparation of 2017 Tax Levy & Setting The Date For The Public Hearing – 6.01
The board approved the resolution to direct the Administration to prepare the 2017 levy based on a 3.83% increase over the estimated aggregate levy extensions of the preceding year excluding the bond and interest levy, and conduct a public hearing on the proposed tax levy during the November 27, 2017, school board meeting. The board will vote on a resolution to adopt the levy at the December 11, 2017, board of education meeting.
Support For Elk Grove Village Tax Increment Financing (TIF) For The Proposed Redevelopment Plan For The Higgins Road Corridor Project Area – 6.02
The board approved the resolution to support the Elk Grove Village Tax Increment Financing (TIF) for the Proposed Redevelopment Plan for the Higgins Road Corridor Project Area. The district will provide Elk Grove Village with feedback and request the TIF timeframe be shortened from the 23 year duration or surplus incremental property taxes be distributed to the taxing bodies sooner that the planned TIF expiration date of 12/31/41.
Approval of Donation of LRC and S.T.E.A.M. Materials from Donors Choose for Brentwood Elementary School – 6.03
The board approved the resolution to support the request by Brentwood Elementary School to solicit donations through Donors’ Choose in the amount of $601.64. When received, this donation will be used at the Brentwood Elementary School LRC to foster the love of reading and provide S.T.E.A.M. opportunities.