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3/9/2010 10:00:00 PM Email this articlePrint this article 
Where's TIF carve-out formula?
Former D97 Board president insists calculation does exist

Though it has become the source of contention and confusion, and now a lawsuit between District 200 and the village government, the calculations to help figure out how much each Oak Park school district is owed in tax increment financing payments from a 2003 "carve-out" agreement is no where in site. It hasn't been found in a file folder, desktop computer or under a stack of papers.

"No one knows where it is," said Peter Traczyk, president of the District 97 Oak Park elementary school board.

Most of the participants who helped draw up the carve-out agreement and two footnotes within it that address the payment provisions are no longer in their respective jobs or elected positions. But Ade Onayemi, former president of the District 97 school board, insists that the formula did not just disappear.

"When we put this together, we made sure to have everything in place for the next group of [officials] to be able to work from," he said.

But so far, documents, notes or a spreadsheet have not surfaced from those early negotiations. Traczyk is also baffled that there were no supporting documents attached to the original 2003 agreement with the calculations.

"That would be very helpful," he said, somewhat sarcastically.

-Terry Dean





Reader Comments


Posted: Tuesday, March 16, 2010
Article comment by: Elizabeth Rees

When I consider the mountain of documentation most individuals are required to obtain, store and have access to for any sort of major financial responsibility (buying a home, securing a loan, even renting an apartment) much less the requirements for small business owners or more major investors, I find it absolutely baffling that the Village of Oak Park cannot lay hands on any copies of a major financial agreement which was updated as recently as 2003!

I also find it bizarre that both District 97 and District 200 were not given copies of those documents at the time the TIF was carved out- just as all parties would receive copies of documentation in any other financial or business agreement. Or if they were- what happened to those copies? Are there no file cabinets at the school district offices? Did no one have access to a floppy disc drive to make a digital copy?

Who specifically in each of these bodies was overseeing this process?

I'm sorry, but something about this stinks. At the very least, it smacks of severe negligence and irresponsibility. Plenty to go around,- all 3 bodies should have kept better records, but the Village needs to come up with this missing agreement.


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