Sycamore Township's economic development arm has spent $963,065 so far in 2026, outpacing its $800,000 in revenue by more than $163,000.

The bulk of that spending went to a single line item. The Community Improvement Corporation (CIC) paid $770,175 for economic development land, according to a draft expense report included in the board's upcoming meeting packet. The documents do not identify the property or its seller.

The CIC board will review those financials and hear an Economic Development Grant Program update when it meets Tuesday, Sept. 1, at 5:45 p.m. at 8540 Kenwood Road.

Grant spending down

Executive Director Greg Bickford told the board at its June 2 meeting that "the CIC grants paid in 2026 are down compared to previous years by a little less than five percent."

The CIC's grant program pays grants to Sycamore Township residents who work in Joint Economic Development Zone (JEDZ) districts. Through late August, the CIC had paid $59,046 in JEDZ grants across four zones: $19,316 in the East, $18,209 in the Central, $17,524 in the Northwest and $3,997 in the Southwest.

For comparison, the CIC paid roughly $53,000 in JEDZ grants for all of 2025, Bickford reported at the March 3 annual meeting. East JEDZ grants accounted for $34,000 of that total.

Revenue and spending context

The CIC's $800,000 in 2026 revenue came from two sources: a $700,000 transfer from the Sycamore Township Board of Trustees, approved unanimously on May 5 under Resolution 2026-04, and $100,000 in other CIC fund income. Trustees Tom Weidman, Tracy Schwegmann and Tracy Kellums all voted aye.

Beyond the land purchase, the CIC spent $132,707 on contract services.

Full-year expenditures totaled $518,202 in 2025, $79,917 in 2024 and $97,586 in 2023. The land acquisition accounts for most of the 2026 increase.

Property transfer approved in June

At the June 2 CIC meeting, the board unanimously approved a resolution accepting a property transfer from the township trustees. The vote took three minutes. President Weidman, Vice President Schwegmann, Secretary Kellums, Treasurer Jonathan T. Deters and Bickford all voted aye, and the meeting adjourned at 5:48 p.m.

The next CIC meeting after Sept. 1 is scheduled for Tuesday, Dec. 1, at 5:45 p.m.