Page 44 - The Peorian Vol 3 Issue 1 Winter
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Setti says you cannot receive
any TIF benefits if you tear
down a building on the National
Register. So, the city is going to
offer a package in which someone
builds a new structure on the
parking lot and any property
tax would go into a fund for the
Madison renovation.
Since the RFI is just being used
to see what choices are out there,
the Comforts and/or the city can
drop out of the deal at any time.
If all goes well, though, by
early 2014 the city will hope “to
[have] identified a couple of
parties that wanted to take the
next step in exploring how to do
this,” Setti said.
