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Quincy City Council asks IL Gen Assembly to extend District TIF

Quincy City Council asks IL Gen Assembly to extend District TIF

2 months, 1 week ago by Scott Hardy

If approved, would continue to 2035

The Quincy City Council has voted to ask the Illinois General Assembly to extend the term of a downtown taxing district by over 10 years. Scott Hardy has more.  

(  Audio  1:43  )  

The Council voted to approve a resolution asking the General Assembly to extend the Central Business District West Tax Increment Financing project to 2035. The Quincy School Board has already approved a similar resolution, and the Adams County Board, Quincy Park District and John Wood Community College will all take similar votes in the next two weeks. That TIF generates about $450,000 a year, and City Planning and Development Director Chuck Bevelheimer says he wants to see it grow.  

( Chuck Bevelheimer :40 )  

The General Assembly's expected to take the matter up in their fall veto session. The City Council approved a resolution to allocate $150,000 in TIF money to renovate six upper-floor rental units. It's part of a city program that aids developers who pledge to turn un-used or under-used upper floor space into market-rate apartments.

The Council also approved a nearly $5 million bid from a St. Louis company to start on the first phase of improvements to the Waste Water Treatment Plant. They also approved a $768,000 bid to reconstruct Hampshire Street from 12th to 14th Streets. The work would include new water mains, storm sewers, re-surfacing, curbs and gutters.

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