City officials in Rochelle continue to move forward in trying to establish a TIF district on the north side of town.
Last night, they approved a resolution for a Northern Gateway Tax Increment Financing District along Route 38, Illinois 251, and Flagg Road. There are a total of 95 parcels.
The area includes Aldi's, Hickory Grove, the Rochelle Commons, and near T-Byrd Lanes. City Manager Jeff Fiegenschuh said that the goal is to redevelop the property. The EAV has decreased in the past 5 years in this area for the city by 6 percent.
Does he have a time table for the project? Fiegenschuh said that the TIF District is good for 23 years. He hopes it does not take that long for changes in the area. He said Hickory Grove could possibly see some changes in a year or 2.
The city plans to have a feasibility study done for the designation of a redevelopment project area.
The council approved the bid of $4,800 from Bruns Construction for the property at 122 South 9th Street. Tim Bruns plans to donate area to Habitat for Humanity .
City Manager Jeff Fiegenschuh
