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Presentation Documents for 2/13/2019

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2019-088

AN ORDINANCE AUTHORIZING THE AMOUNT OF $1,200,000.00 FOR ROAD INFRASTRUCTURE IMPROVEMENTS TO JNB SPRINGFIELD, LP AND ROCK ISLAND ECONOMIC GROWTH CORPORATION UTILIZING FAR EAST TAX INCREMENT FINANCE FUNDS FOR THE LIVINGSTON PLACE REDEVELOPMENT PROJECT FOR THE OFFICE OF PLANNING AND ECONOMIC DEVELOPMENT, AS AMENDEDThe City and Related Midwest (Owner) entered into an Agreed Order in Case No. 2014-AC-0787 ("Order") dated November 28, 2018 which established requirements for the redevelopment of property generally bounded by Manor Avenue to the north, Livingston Street to the east, Old Rochester Road to the south and S. 25th Street to the west ("Poplar Place Area"). JNB Springfield, LP, and Rock Island Economic Growth Corporation (RIEGC), have agreed to redevelop the Property per the requirements of the Order and have requested $1,200,000.00 Far East Tax Increment Financing funds to make road infrastructure improvements as required under the Order.
Agenda Type: Agenda Item
Department: Finance
Agenda Item #2019-088: Amendment #1  Change the name from Poplar Place to Livingston Place   Passed
   2019-088.pdf