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Questions You Should Ask Before Hiring a Consultant for Tax Increment Financing

QUESTIONS:
TNJ/EDG
ESTABLISHING TIF DISTRICTS
For how many years have they established TIF Districts?
over 20
Have any of their TIF Districts ever been approved by the Illinois Department of Revenue?
YES
How many TIF Districts have they created?
over 75
Has their staff ever been qualified by an Illinois Court as a TIF expert?
YES
LEGAL EXPERTISE
Do they provide legal advice and assistance in negotiating agreements with Developers?
YES
Do they provide legal advice and assistance in drafting legal documents including Redevelopment Agreements, Intergovernmental Agreements, and Ordinances?
YES
Do they provide legal advice and assistance in providing a legal opinion for Annual Reports to Taxing Bodies and the Illinois Comptroller’s Office?
YES
Do they provide legal advice and assistance in providing a legal opinion for the issuance of TIF Bonds or Notes?
YES
ADMINISTRATION OF TIF DISTRICTS
Do they offer any continuing services to help your town after the TIF District is in place?
YES
Do they help your town find Developers?
YES
Do they meet with potential Developers on behalf of your town?
YES
Do they meet with the Town Board or City Council upon request?
YES
Are their staff available by phone to answer our questions?
YES
Do they prepare Annual Reports required by the Illinois TIF Act?
YES
Do they prepare and submit electronic Reports to the Illinois Comptroller’s Office?
YES
Do they prepare and present Annual Reports to Taxing Bodies?
YES
Do they prepare and conduct Joint Review Board meetings?
YES
Can they determine payments to Developers under Redevelopment Agreements?
YES
Can they determine payments to other Taxing Bodies through Intergovernmental Agreements?
YES
Can they help budget Public Projects?
YES
Can they track eligible project costs?
YES
Can they track tax increment parcel-by-parcel?
YES



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