As Flossmoor District 161 prepares to approve its 2016-17 budget, significant financial boosts are likely from both state and local sources.
With the retirement of Flossmoor’s tax increment financing (TIF) district last December, the Flossmoor school system is expecting a 2.8 percent increase in local tax revenues in the new fiscal year. Frances LaBella, District 161’s associate superintendent for business, said the TIF retirement will bring about $300,000 in additional revenues.
The TIF, during its 23-year lifespan, was used to finance infrastructure improvements in the area where Flossmoor’s . . .
