(A) There is hereby created the office of Economic Development Coordinator and TIF District Administrator. The TIF District Administrator shall be appointed by the Village President with the advice and consent of the Village Board and shall serve a two-year term, or until his or her successor is appointed. The Administrator shall be an officer of the village and shall have all the qualifications for office established by the Illinois Municipal Code, and shall be a resident of the village.
(B) The TIF District Administrator shall have the following duties with respect to the Village Tax Increment Financing ("TIF") and economic development programs:
(1) Advise and assist the corporate authorities in the coordination of economic development programs, policies and activities;
(2) Serve as the primary liaison between the Village Board and the Tax Increment and Economic Development Advisory Committee;
(3) Provide staff assistance to the Tax Increment and Economic Development Advisory Committee;
(4) Provide assistance to parties interested in utilizing TIF funding to develop or improve commercial property withing the TIF District;
(5) Assist in the negotiation of TIF agreements on behalf of the village;
(6) Monitor the implementation of TIF projects and agreements;
(7) Prepare the annual budget of the TIF Special Allocation Fund;
(8) Prepare the annual report of the TIF District as required by statute;
(9) Provide advice as needed to the corporate authorities on related financial matters, including but not limited to property tax levies, bonded indebtedness, utility rates, investment of funds, and budgeting.
(C) The TIF District Administrator's salary shall be paid from the several funds of the village which are benefitted by the Administrator's work, as determined from time to time by the corporate authorities of the village.
(Ord. 97-20, passed 6-10-97)
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