DeKalb Mayor Greg Sparrow said the city’s short-term construction projects could be started in six months and long term projects in one year.

In an informational meeting between the DeKalb City Council and the DeKalb School Board, interests were communicated between both bodies to make the most of the Sales and Property Tax Increment Financing (TIF) District for building maintenance and special projects.

The TIF District allows the city “to specifically target an area of the community for redevelopment,” according to the city’s budget. It is between the Kishwaukee River and DeKalb Taylor Municipal Airport, extending north along Sycamore Road.

About 18 percent of the city’s total land area is within the district, including service, commercial, industrial, and residential areas.

No new taxes, tax increases, new fees, or fee increases for fiscal year 1990 are proposed by the city.

Projects the city has budgeted money for during FY90 are: $250,000 for water improvements; $500,000 for storm water improvements, and $475,000 for street, storm water and/or airport improvements.

DeKalb City Manager Mark Stevens said one of the greatest difficulties in determining the tax increment is planning 10 to 15 years into the future.

“There’s a possibility to fashion an agreement that would deal with the situation for the next 10 years, if everyone would agree on it,” Stevens said.

He said the tax increment would benefit the community “but it does not come without cost.”

To obtain funds for construction projects, the city officials are considering having bonds issued by an outside firm for possibly up to $3 million.

DeKalb City Clerk Marguerite Hoyt said the bonds act similiar to home mortgages. “It gives money instantly or in increments for projects,” Hoyt said.

Bonding allows the city to pay back the debt in five to 10 years.