Finance Committee Will Discuss Elmhurst's Decreasing Property Values

Three of Elmhurst's standing committees will meet at 7 p.m. Monday, July 22, to discuss stormwater, property values, stop sign request and other items.

Finance, Council Affairs and Administrative Services Committee has just two items on its agenda: continued review of a tax increment financing incentive policy and sales tax incentive policy, and review of the 2012 equalized assessed value and tax rate memo.

The EAV review was completed by Finance Director Marilyn Gaston, and includes some numbers that aren't easy to hear. Following is a sampling from her report:

• The assessed value for the city of Elmhurst decreased 10.4 percent
• The assessed value in TIF I (downtown) decreased 14 percent, and the increment decreased about 19 percent
• The assessed value of TIF II (Lake/Walnut) decreased 11.6 percent, and the increment decreased about 16 percent.
• The assessed value in TIF III (Route 83 and St. Charles) decreased about 8 percent, and the increment decreased about 12 percent
• Tax rates increased across the board

Public Affairs and Safety Committee agenda includes the following items:

• Elmhurst College Taste of Elmhurst
• IC Parish Block Party
• Stop sign request for Cedar Avenue/Barclay Court at Madison Street
• Review of the transient merchant ordinance

Public Works and Buildings Committee will discuss the following:

• Storm sewer ITEP funding
• Southwest Elmhurst Wet Weather Control Facility
• Roof replacement at City Hall
• Purchase of a Ford F250
• Traffic signal and streetlight pole painting project
• 2013 sidewalk replacement program
• 2013 sidewalk slabjacking program

The meetings all will be held at City Hall, 209 N. York St. Development, Planning and Zoning Committee is not scheduled to meet. 

Public comment is welcome at all meetings.