Community Corner
St. Charles Considers New TIF District For 7th Street Redevelopment
A proposed Seventh Street commons project would bring more than 100 homes to a long-vacant property, city officials said.
ST. CHARLES, IL — St. Charles officials are moving forward with plans to create a new tax increment financing district to help redevelop a long-vacant 28-acre property off 7th Street that was once home to Applied Composites.
The proposed development by Pulte Group would include 92 single-family homes and 12 townhomes on the site, which has sat vacant for more than two decades, the Daily Herald is reporting. City officials said a TIF district is needed to help cover eligible redevelopment costs, including relocating city-owned electrical infrastructure, and aldermen expressed support for moving ahead with the process.
The city council is expected to consider hiring a consultant to prepare a required TIF eligibility report, a process that would include public hearings before a final vote, according to the Daily Herald.
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