Two local school districts will get extra money, thanks to a surplus in the village’s Crossroads tax increment financing district fund, officials said.
The $1.87 million surplus means all taxing districts in Wheeling will get extra cash this month.
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Community Consolidated School District 21 and Township High School District 214 will get $759,000 and $423,000, respectively. Village trustees approved the surplus and distribution of funds this week.
The TIF was to expire in 2008. However, both school districts agreed to support an extension to 2019, and the village agreed to declare an annual surplus of TIF funds and mail checks to all taxing districts each December, records show.
Other taxing districts receiving money include the town of Wheeling, Forest Preserve District, Indian Trails Public Library and Harper College District 512.