Financial Reporting

TIF Annual Report

Tax Increment Financing (TIF) is a financial tool used to encourage economic development. A TIF District can be created under current Illinois statute provided numerous factors are met and proven. Such factors include areas suffering from blight, obsolescence, deterioration, inadequate utilities and/or infrastructure, and proof that “but for” the TIF District, future development would not be possible. The City of East Moline is required to submit an annual TIF Report for each TIF District to the Illinois Office of the Comptroller each year. This report includes financial information, activities undertaken, and development agreements that took place during the reporting fiscal year.