{"id":7218,"date":"2025-02-11T16:13:00","date_gmt":"2025-02-11T16:13:00","guid":{"rendered":"https:\/\/princetonillinois.com\/?p=7218"},"modified":"2025-02-11T16:13:00","modified_gmt":"2025-02-11T16:13:00","slug":"la-salle-economic-development-committee-passes-grant-opportunity-to-council-shaw-local-news-network","status":"publish","type":"post","link":"https:\/\/princetonillinois.com\/?p=7218","title":{"rendered":"La Salle Economic Development committee passes grant opportunity to council – Shaw Local News Network"},"content":{"rendered":"


La Salle City Hall <\/span>(Shaw Local News Network)
The city of La Salle<\/a> may have some unique economic development opportunities coming its way following Thursday\u2019s economic committee meeting.
The committee recommended the approval the potential application to the Illinois Department of Commerce & Economic Opportunity for the River Edge Redevelopment Zone Program.
According to the website, RERZ helps revive and redevelop environmentally challenged properties adjacent to rivers in Illinois.
Economic Development Director Curt Bedei said that La Salle was in a unique situation given that the river bends outwards from the city\u2019s rivers edge compared to other communities.
\u201cOne of the qualifications was that the river\u2019s edge has to be within 1,500 yards of the proposed area,\u201d he said.
Bedei said after discussing the area with a member of the Illinois Department of Commerce, the city drew up a map for consideration \u2014 taking into consideration the coroner edges of the river.
\u201cIt mainly encompasses mostly downtown,\u201d he said. \u201cIf not all the downtown area which would be most beneficial for this type of programming.\u201d
Bedei said RERZ is a tax incentive for anybody that\u2019s looking to invest or improve their properties that are qualified within the zone that has been indicated through the map.
This is a preliminary map of the River Edge Redevelopment Zone and it may be changed prior to final approval. <\/span>(Photo provided by City of La Salle)
\u201cSo, if you bought a building and it was somewhat blighted and you wanted to improve it and put in offices\u2014 this would be an incentive for you to be able to get some tax credits,\u201d he said.
The committee also approved the PACE Program be forwarded to council for further consideration for an ordinance with consideration with additional answers from the committee.
The committee wanted to know the probability of successful projects in other communities, how they operated and the incentives that they were used in the process.
Both recommendations will be sent to the La Salle City Council<\/a> for final approval.
Bedei said the potential of the two programs within the city if they were to pass would enable people to take advantage of something to improve their properties where they wouldn\u2019t have been able to do so prior.
\u201cThis is much more advanced than a facade program,\u201d he said. \u201cThis makes our community much more attractive to investors who are looking to relocate or expands their businesses or even the ones who are already here that are looking for some type of advantage to improve their buildings.\u201d
Copyright \u00a9 2023 Shaw Local News Network
Copyright \u00a9 2023 Shaw Local News Network<\/p>\n

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La Salle City Hall (Shaw Local News Network)The city of La Salle may have some unique economic development opportunities coming its way following Thursday\u2019s economic committee meeting. The committee recommended the approval the potential application to the Illinois Department of Commerce & Economic Opportunity for the River Edge Redevelopment Zone Program. According to the website, RERZ helps revive and redevelop<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7218","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t