This is a shout-out to all governmental boards and staff in Grundy County, including municipalities, county, schools, libraries, fire districts, townships and more:
You don’t want to miss Friday’s “Funding for Local Units of Government” at the Grundy County Growth Conference. It is to be held from 8 a.m. to 12:30 p.m. Friday, Oct. 26 at First Christian Church, 455 W. Southmor Road, in Morris.
Economic times are tough for tax-supported units of government in Grundy County. Will the economy rebound? How does the economy affect the income and revenue streams of local governments? How do local taxing bodies do more with less? What resources can assist with making tough decisions? How do trustees know they’re making the right decisions? How do TIFs work?
Decisions made by one governmental body can often affect another, so it is helpful (if not necessary) to understand the decisions (and reasons behind them) made by your peers. The public is also invited to attend in order to learn how leaders come to make the decisions they make.
Guest speakers include Rick Mattoon of the Federal Reserve Bank in Chicago, Nancy Hill and the team from the Ehlers municipal finance consulting firm, and a team from the Illinois Government Finance Officers Association.
Registration is $15 in advance and $20 at the door. Refreshments will be served.
Mattoon will present the Midwest economic outlook plus give an update on a study that UIC and the National League of Cities are doing to look at the fiscal response of cities to the business cycle. The goal of the study is to help identify the relative volatility of differing revenues and how cities can structure themselves to best handle economic downturns.
In addition, all presenters will share their expertise, answer questions and discuss scenarios such as:
• What sources of revenue are available to local units of government?
• The changes coming and key issues regarding those revenue and income sources;
• Misconceptions about local funding;
• Why are there so many differences among local governments?
• What to look for when comparing one government’s income streams to another -— Why do vehicle stickers work in one town and not another?
• How do I know when I’ve negotiated the best deal for my village (school district, fire, etc.)?
• Tips for participating in shared services;
• What’s the outlook for bonding?
• Is it possible to go overboard with design restrictions?
• What are the pros and cons of tax abatements and other development negotiations?
• Review the role of the community in economic development;
• Review the role of developers and their financial goals;
• Discuss conducting an analysis of the developer’s pro forma (or “but for” analysis) to determine the level of assistance needed to make a project feasible, and why it’s a good idea;
• Discuss ways to reduce risks to municipality and other local governments;
• Discuss the process of developer negotiation and issues that are likely to need decisions by the community;
• P3’s — Public Private Partnerships — when do they work and what to avoid;
• What grants are available to fund planning or infrastructure projects?
The 7th annual Grundy County Growth Conference is hosted by the Community Foundation of Grundy County as part of our Communityworks Land Use & Protection project. Please call (815) 941-0852 or email julie@cfgrundycounty.com to register or ask questions about the event.
