Finance Committee
QUINCY — Does the city need to pay interest when borrowing from itself? The Finance Committee said no during Monday’s night’s meeting before the regular City Council meeting, agreeing that an interest-free transfer will be fine. It recommended transferring $4 million from the city’s $6 million general fund balance to the water and sewage fund…
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QUINCY — To loan or transfer? That was the question posed by Alderman Mike Rein (R-5) during Monday night’s Quincy City Council meeting regarding how the city plans to borrow from the city’s $6 million reserve fund to pay for a water main replacement project on Broadway from 24th to 30th Street. An ordinance that would transfer…
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QUINCY — The Finance Committee voted Monday night to send to the Quincy City Council a proposal — with no recommendation — to implement a locally-imposed 1 percent grocery sales tax by ordinance. The state of Illinois passed Public Act 103-0781, which repeals the statewide tax on groceries beginning Jan. 1, 2026. If municipalities want…
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QUINCY — The Quincy City Council will vote on Tuesday, Jan. 21 to approve an ordinance that calls for making $2.384 million in cuts to the 2024-25 Fiscal Year budget. The Finance Committee, which met an hour before the City Council met on Monday night, voted to send the amended budget to the full City…
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QUINCY — Comptroller Sheri Ray asked the five members of the Finance Committee for guidance during their meeting before the Quincy City Council meeting. Ray ran out of time before she received an answer. Ray asked for a motion or direction from the committee to show support for a Truth in Taxation resolution and hearing,…
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QUINCY — The Quincy City Council approved an ordinance to create and establish boundaries for a River Edge Redevelopment Zone (RERZ) at their meeting Tuesday night, moving riverfront properties one step closer to restoration. The program incentivizes local developers with various tax credits, tax exemptions and tax abatements, such as new construction jobs credits and…
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QUINCY — A Quincy company redeveloping a downtown building into mixed-use is requesting more than $300,000 in tax increment financing from the City of Quincy as part of its nearly $6.9 million redevelopment of a century-old building. The Finance Committee unanimously voted during its Monday night meeting to send the proposal to the full City…
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QUINCY — Jack Holtschlag (D-7) said he didn’t know how the vote would go when he made a motion to have another vote for the City of Quincy to partner with Adams County to build a roundabout at the intersection of 48th and State. “I go by there three or four times a day, and not…
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QUINCY — Despite a passionate plea from a retired city engineer to reconsider building a roundabout, the Finance Committee agreed Monday night to send to the full Quincy City Council a recommendation for the transfer of jurisdiction for the intersection of 48th and State. Aldermen voted on April 1 not to contribute $2.6 million to build…
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QUINCY — Corporation Counsel Bruce Alford told the Finance Committee during its Monday meeting at the Quincy Public Library that Adams County wants the City of Quincy to take jurisdiction of the intersection of 48thand State after aldermen voted on April 1 not to contribute $2.6 million to build a roundabout at the intersection. “That’s going…
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QUINCY — When Finance Committee Chairman Mike Rein asked for justification to increase the amount of TIF money from $500,000 to $1.5 million given to a local hotel development project, Director of Planning Chuck Bevelheimer explained the financial reasons. Then he gave everyone at Monday’s meeting in the Quincy Regional Training Center a history lesson.…
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QUINCY — An Omaha, Neb., developer hopes to bring a convenience store and five national retail stores to the northeast corner of 54th and Broadway, with construction possibly starting this summer. A sales tax rebate for the development was a topic of discussion during Monday night’s Finance Committee meeting, held one hour before the Quincy City…
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QUINCY — Director of Public Works Jeffrey Conte has two weeks to prepare different options to pay for $30 million worth of improvements to Quincy’s water system. The creation of an ordinance to increase water and sewer rates was on the agenda for Monday’s Quincy City Council meeting. The average monthly cost to the consumer…
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QUINCY — The Finance Committee voted on Monday night to send a proposal to the full Quincy City Council that calls for an increase in the amount of subsidy funding to the Quincy Public Library next year. Kathleen Helsabeck, executive director of the library, made a presentation during Monday’s meeting, which was attended by all…
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QUINCY — The Quincy City Council’s Finance Committee voted Monday night to send a couple of items for the full council at its Aug. 9 meeting. Committee members voted to send the council a proposal to extend the city’s Enterprise Zone boundary to the Mid Town Business District. However, the Illinois Department of Commerce and…
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