Manteno to discuss Second Street, TIF district
The Manteno Finance Committee will meet Monday to discuss the progress of its redevelopment initiatives as well as other projects for the year ahead.
The committee will also get the latest news on the village's pursuit of redevelopment on Second Street. The village has contracted with Hitchcock Design Group to draft plans for a redevelopment of the area, which may include a turnaround, traffic circle, additional green spaces, building development or some combination thereof.
The committee will also review its TIF program, including a request to use TIF funds for facade improvements at 43-45 N. Main St. TIF is the abbreviation for Tax Increment Financing, which allows towns or businesses to use a certain amount of property tax money to improve a particular area of a town or city. The amount available to be used is based on the amount of value added to the area after the TIF area was designated.
The committee will also discuss the purchase or lease of a Zamboni and the lease on a cell tower in the village.
The meeting will be held at 7 a.m. in the conference room at 98 E. Third St.
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98 W 3rd St
Manteno, IL - 60950