ROCKFORD (WIFR) -- A potential economic boost for a well traveled part of Rockford Has generated some debate at city hall.
Several aldermen want to move forward with a plan to create a tax increment financing district along this section of East State between Mulford and Alpine Roads. A TIF District creates tax incentives for business to get them to move into an area. Some aldermen argue, this section of Rockford doesn't need a TIF because it isn't blighted. Others say go for it because, unlike other TIF'S around Rockford, this one would be "pay as you go".
If the TIF passes, 15% of the revenue generated would be split among other local taxing bodies, including the Rockford School District and the airport. City council is set to make a final decision on the plan at next week's meeting. Also at Monday night's meeting aldermen were expected to tackle a new police headquarters location, however, that issue wasn't discussed.