Capital Improvement Plan
The Capital Improvement Plan (CIP) will spend a total of $14,343,560 in 2021 on capital projects. This will include funding from all sources including Stormwater fees, Water Utility funding, Wastewater fees, Utility Tax, Motor Fuel Tax, Local Option Sales Tax and Grant Funds (both Federal, State and other sources). Projects will include complete reconstruction complete with replacement of all underground utilities, overlay projects, sealcoat resurfacing, trenchless water main replacements, lead service line replacements, ADA sidewalk improvements, sidewalk infill activities, joint sealing, sewer and manhole lining, pavement marking, utility and pavement patching as well as traffic safety initiatives and outside engineering assistance services.
The City has been successful in securing grants for a variety of capital projects. Currently there are seven that have been awarded and two that Moline has been given indications will be awarded soon with Moline positioned positively to receive funding.
REBUILD Illinois Funds
REBUILD Illinois funds will come to Moline in six installments of $477,617 each for a total of $2,865,702 in the three years of pledged funding from the State of Illinois. Projects advanced for use of this funding must be designed to last for a least 13 years to qualify.
Illinois statute provides for municipalities to designate areas Tax Increment Financing (TIF) districts. These areas qualify for designation by suffering from such factors as blight, obsolescence, deterioration, inadequate utilities, deleterious land-use, declining land value, among others. The City of Moline currently has 12 TIF Districts.
TIF districts are created to assist in the redevelopment of a particular area. A baseline for property taxes is developed. All taxing bodies still receive the same amount of property tax revenue as before the TIF district was designated. Also, no additional taxes are placed on properties in the TIF district. As improvements are made to a property its value increases. The difference between the increased value and the baseline is the increment. The increment is used by the local government to make public improvements to the redevelopment area.
The funds for the public improvements can be made available either by issuing bonds at the beginning of the project or distributing the increment as it becomes available every year.
In order for a project to qualify for TIF financing, the developer has to prove that “but for” public assistance the project would not move forward. There must be a number of impediments that make the project impractical without public assistance. The City has developed a process to ensure that public monies requested are indeed necessary.