The City has prepared a Redevelopment Plan for the proposed East Side Tax Increment Financing (TIF) District. The goal is to use this locally controlled tool to unlock new housing on underutilized land and fix aging roads, water, sewer, and storm water infrastructure that private development alone cannot cover right now.
Key points in the plan:
– New single-family homes to help address the local housing shortage.
– Public infrastructure upgrades to support growth and existing properties.
– Incentives for private investment in both residential and commercial projects that would not move forward without TIF assistance.
– Long-term growth in the real estate tax base to support city services, schools, and the community without raising rates on current residents.
A Public Hearing on the plan is scheduled for Monday, July 20 at 5:30 PM. This is your opportunity to review the details and provide comments.
You may read the full plan here: https://www.tifillinois.com/…/monmouth_east_side_tif…
You may listen to Mayor Davies discuss the housing plan here: https://rss.com/podcasts/city-of-monmouth-illinois/2980152
We encourage residents to read the materials, listen to the podcast, and attend the hearing. We hope to see you there!
***Courtesy of the City of Monmouth***
