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Updated: 11:25 PM Jan 23, 2012
Rockford Aldermen Approve TIF Dist. Feasibility Study
Rockford aldermen are considering the city's 31st tax increment financing or TIF District near the area of Mulford Road and East State Street.
Posted: 10:43 PM Jan 23, 2012 |
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2 Comments 
ROCKFORD (WIFR) -- Rockford aldermen hope tax incentives will attract new businesses to an east side neighborhood.
They're considering the city's 31st tax increment financing or TIF District.
A consultant for OFS St. Anthony Medical Center now has the green light to conduct a feasibility study on the area near Mulford Road and East State Street to see if it is eligible to become a TIF District. Property taxes from the area would go into a pool of funds that could be used by local businesses. Some on city council are concerned about the long term success of this proposal.
11th Ward Alderman Karen Elyea says, "About half of the city's TIF districts are under performing. Of course those were not pay as you go districts. Throughout this process, we're going to try to ensure this is a pay as you go district."
Once the feasibility study comes back, aldermen do have the option of saying no to the proposed TIF.
Latest Comments
Thank you Morons with the title Aldermen. Perhaps look up the meaning of the word Alderen and do a self study on your lack of ethics/morals with the self serving decisions you make.
Good idea! Now here is another one. Since no one but the very few "Rockford Elite" want a roundabout at Main and Auburn, give this proposed area the roundabout! Stop shoving unwanted projects down our throats. Taxpayers are sick and tired of politicians doing whatever they want, no matter what anyone else thinks or needs. If the roundabout at Mulford and East State works, it can prove to the entire area once and for all that something could work or not.
