The general public will get the opportunity to weigh in on another Rockford TIF district.
Alderman Ann Thompson-Kelly opposed the TIF in the past. She's the one who got it laid over last week. Thompson-Kelly wasn't there tonight. But her vote would not have stopped this public hearing from going forward.
Aldermen ok'd the hearing 9 to 3. Supporters say it'll give people the opportunity to share their opinions, ask questions and request information. This new proposed "TIF" would begin at Alpine running east on State Street until reaching Mulford.
"TIF" stands for tax increment financing. Those districts are designed to give new businesses incentive to fill empty stores like the former K's Merchandise and Off-Track Betting. But a strong push against this "TIF" has some aldermen saying "how much is too much?"
They think the area is doing fine with stores flourishing and a new Valli Produce opening. This vote doesn't approve TIF it simply gives business owners and residents in that area a chance to be heard.
No word yet on when the hearing will take place.
"We just approved the ability to have the public hearing so that information will be coming out shortly. And I'm sure that they have a time period that they need to follow along and a TIF hearing will be held in several weeks," said Alderman Doug Mark.
Alderman Mark says residents and business owners in the area should look for specifics on that meeting to be posted online. We'll let you know when we hear something about it too.
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