Classic Hits 103.9 WLPO

News from the Illinois Valley

La Salle property to benefit from downtown TIF

Posted by wlpo on February 20, 2012

A store front on First Street in La Salle that sat untouched for a decade or more is being remodeled.  Most days you can see workers arriving early at the former Gloria’s Children Store.  The store is going to be the new site of Marien Mae Bridal and Boutique.

It’s the kind of project that will benefit from being in a tax increment financing district.  La Salle Mayor Jeff Grove says the city is working on an agreement with building owner Gary Hammers.  Grove says it won’t reimburse Hammers for the purchase of the building but for some of the cost of remodeling it and bringing it to code.

Grove says after the schools and other taxing districts are paid the property taxes their owed, Hammers will be paid reimbursed.  Grove says Hammers has had agreements for other properties.

In all, about one dozen properties have benefited from the TIF that was created five years to help the Kaskaskia Hotel.

While the hotel has yet to reopen, the bridal shop is expected to open next month.

Sorry, the comment form is closed at this time.

%d bloggers like this: