More than 50 area residents turned out at the Rochelle City Hall Building last night as a public hearing was held dealing with the possibility of a tax increment financing district for the Hub City in the future.
The city is looking at the downtown area along with the south gateway to the community for the "TIF" District. This would not include the golf course green space.
Community Development Director Michelle Pease talked about the goal for the city. It includes bringing life back in the downtown area with new businesses. She said that "TIF" is a tool for developers.
Kon Savoy of Teska and Associates was in charge of the hearing as his company did the "TIF" District study for the city. Pease said that many of the local residents were concerned with the future use of their property.
"TIF" District funds can be used for many improvements for a community. This includes utilities, roads, facades along with environmental clean-up.
The city's proposal is for no more than 23 years involving the "TIF" District. The council is expected to make a final decision during their meeting on January 25th or February 8th.