City of Carlyle Finance Committee met Sept. 9.
Here are the minutes provided by the committee:
Call to Order
The meeting was called to order by John Hodapp on Monday, September 9, 2024, at 6:45 p.m. at Case Halstead Library located at 550 6th Street, Carlyle, IL 62231. Committee members present included John Hodapp and Jeff Taylor. Chairman Jeremy Weh was absent. Others present included Tammy Peters, Jim McClaren, Scott Diekemper, Bruce Hilmes, Mike Jansen, Chief Mark Pingsterhaus, Rita Jurgensmeyer, Brad Myers, Mayor Judy Smith, and Martha Reinkensmeyer.
Approval of Minutes
After reviewing the minutes from the August 26, 2024, meeting, Jeff Taylor made a motion to approve the minutes. John Hodapp seconded the motion. After a voice vote, all were found in favor.
Approval of Claims
After reviewing the claims, John Hodapp made a motion to approve them. Jeff Taylor seconded the motion. After a voice vote, all were found in favor.
Approve TIF Agreement with TDK
Brad Myers explained the TIF agreement to the committee. This allows TDK to build a fabrication plant in the city of Carlyle. TDK is investing over $4,000,000.00 in this plant. He will be getting returns of that called tax increment financing. The first three years will be a 50/50 split between the city and TDK. Years 4 – 15 will be 80/20 split. He will receive 80 and the city will receive 20. The last four years will return to a 50/50 split. TDK will be receiving around $1.2 million. John Hodapp made a motion to recommend the TIF agreement with TDK to council. Jeff Taylor seconded the motion. After a voice vote, all were found in favor.
Unfinished Business
John asked for an update on purchase orders.
New Business
There was no new business.
Any Other Comments
There were no any other comments.
Public Comments
There were no public comments.
Executive Session
The committee did not enter executive session.
Adjournment
With no further business to discuss, Jeff Taylor made a motion to adjourn. John Hodapp seconded the motion. Finding all in favor, the meeting adjourned at 6:48 p.m.
https://go.boarddocs.com/il/carlyle/Board.nsf/Public#
