The City of Collinsville is considering adopting a Redevelopment Plan and Project for the proposed Southwest Corridors Redevelopment Project Area (“Project Area”) using tax increment financing (“TIF”) pursuant to the Illinois Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq.). The area being considered for designation as a TIF Project Area generally includes portions of the St. Louis Road, Collinsville Road, and Bluff Road corridors from Fairmount Racetrack on the west to Jefferson Avenue on the east and along Bluff Road north to Interstate 55/70.
The Redevelopment Plan and Project for the Project Area provides for construction of new streets, improvement of existing streets, new and upgrade of utilities, including storm water control facilities, building rehabilitation, property assembly and other TIF eligible activities to facilitate reinvestment on the part of private enterprise.
On January 25, 2016 the City of Collinsville passed an ordinance stating the City's future intent to adopt a redevelopment plan and redevelopment project, and designate a Redevelopment Project Area in order to establish the Southwest Corridors TIF District.
A copy of the proposed Redevelopment Plan and Project can be found here.
On March 22, 2016 a public meeting was held to provide an overview of the proposed redevelopment plan and project area.
On June 13, 2016 A public hearing was held on Proposed Business District and Approval of Business District Plan
for the Southwest Corridors Business District
2015 SW Corridors BD Plan (9262 KB)
3 22 2016 Public Meeting SW Corridors TIF
Those interested in knowing more about current TIF Law please visit the Illinois Tax Increment Association's website - www.illinois-tif.com