Housing

TIF district finally implemented in Paxton

PAXTON — City officials plan to aggressively pursue the development of land around Interstate 57 now that Paxton’s long-delayed tax increment financing (TIF) district has finally been implemented.


Annexation, zoning of some land in TIF area approved

PAXTON — The Paxton City Council approved the annexation of eight parcels of land surrounding Interstate 57 and zoned them for commercial and residential use Monday night, with expectations to include the properties in the city’s proposed tax increment financing district.


19 parcels near I-57 to be annexed into Paxton

PAXTON — Nineteen parcels of land surrounding the Interstate 57 interchange are being considered for annexation into city limits and inclusion in Paxton’s proposed tax increment financing district, and recommendations for each property’s zoning will be made by an advisory panel this week.


Phase I of Railside Estates completed

GIBSON CITY — Gibson City Council members on Monday night approved the final completion of Phase I of the Railside Estates subdivision by Pinehurst Developers, a division of Brady Homes of Bloomington.

“They finally finished everything they were supposed to do,” said Alderman Dean Kidd, serving as mayor pro tem in the absence of Mayor Dan Dickey.


Implementation of TIF district pushed back until August

PAXTON — The implementation of Paxton’s long-anticipated first tax increment financing (TIF) district was pushed back another 45 days Monday night.


Last-minute negotiations secure TIF district's fate

PAXTON — The city secured a vote of support from other local taxing bodies to move forward with a proposed tax increment financing district last week — but only after Mayor Bill Ingold organized a last-minute negotiating sesssion with Paxton-Buckley-Loda school district officials to come to terms on a long-disputed intergovernmental agreement.


City, PBL still working toward agreement on use of TIF funds

PAXTON — Paxton-Buckley-Loda school district officials agree that the growth that is expected to result from Paxton’s proposed tax increment financing (TIF) district would be a good thing for a city struggling to maintain its businesses, industries, residents and jobs.


Joint review board questions developer's proposal

PAXTON — Members of taxing bodies in Paxton balked last week at a developer’s proposal to redevelop land he owns around the Interstate 57 interchange.

The Ford County Board’s chairman, Rick Bowen, even called Rantoul developer Joe Warner’s proposal “impossible.” And Warner himself admitted just as much in a telephone interview last week.


TIF district redevelopment plan published

 

The redevelopment plan for Paxton's proposed tax increment financing (TIF) district was released to the media Thursday. The redevelopment plan will be the focus of a public hearing scheduled for 7 p.m. March 28 at City Hall, 145 S. Market St.  Click on the link to the right to view the 158-page document ...


TIF district projected to generate, expend sizeable figures

PAXTON — The city of Paxton anticipates spending $74 million to redevelop the Interstate 57 and downtown areas over the next 23 years using funds generated by a proposed tax increment financing district.


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