New store opening hinges on TIF District designation in Pecatonica

By Chris Johnson

Reporter

A recent presentation by representatives with Ehlers Inc. Municipal Financial Advisors revealed findings regarding the benefits of modifying an existing TIF District in Pecatonica in order to potentially bring in regional retail sales outlet Dollar General.

The designated TIF District would begin south of the existing village property line on land that requires annexation.

When the process achieves a certain state of possession, the village will run a water main past the existing village limits onto annexed property approximately 900 feet south towards Route 20. The water service would be provided by the village with the extension of the current main.

The business would then absorb the expense to connect their physical structure with the provided main to be available upon completion of contract obligations.

If the measure is approved and the correct paperwork is filed, the existing TIF District would grow to cover the entire Main Street corridor from south to north approaching the Pecatonica River.

Upon passage, the existing TIF District would be stretched to cover much of the Village limits along Main Street from south of Pecatonica High School through the downtown area to possibly Grove Street. This would include existing businesses. This will also include residences.

A boundary map and legal description of the properties involved will be required. Research into the number of resident units exist will also have to be done.

It was reported that if more than 75 units are affected a Public Hearing must be held.

Village President Dan Barber spoke to Trustees in responding to the presentation on the move ahead informing them of the importance of action being taken.

“We want to get this done as quickly as we can. We don’t want to upset the developer’s timeline, because they are ready to go! We have to get this done. I want this business here because I know it will help our residents. It will help all of us.”

Additional information is expected to be presented during the upcoming meeting of the Pecatonica Committee of the Whole on Thursday, Aug. 4 at 6 p.m.