DeKalb City Council approves $83,000 TIF incentive for Heartland Bank relocation project

In a recent City Council meeting held on August 11, 2025, the DeKalb City Council approved a significant economic incentive aimed at revitalizing a key area of the downtown district. The council voted to authorize an $83,000 Tax Increment Financing (TIF) incentive for Heartland Bank, which is relocating to a new site at the intersection of Grove and South Fourth Streets. This decision is part of a broader effort to enhance the downtown area and stimulate economic growth.

The project, which has an estimated total cost of nearly $1.7 million, will involve essential upgrades to outdated underground infrastructure, including water and sewer lines. City officials emphasized that this investment aligns with the goals of the TIF program, which is designed to encourage development in areas that have historically needed revitalization.

Alderman Susanna expressed enthusiasm for the project, noting its potential to improve the neighborhood and attract further investment. However, she raised concerns about the return on investment, questioning whether the city would see adequate tax revenue from the incentive provided. Other council members echoed her sentiments, with Alderman Verbick suggesting that the council should consider other potential projects that might also benefit from TIF funding.

Despite these concerns, the council ultimately recognized the importance of supporting businesses that are willing to invest in the community. Alderman Larson pointed out that the current investment could lead to further development along South Fourth Street, which has been in need of attention for some time.

The council's decision reflects a commitment to fostering economic development in DeKalb, with the Heartland Bank project serving as a catalyst for future growth in the downtown area. As the city moves forward, officials will continue to evaluate the impact of TIF funding and explore additional opportunities to enhance the community's economic landscape.