Council approves $50,000 TIF grant for downtown redevelopment project
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Summary
The council approved a one-time $50,000 TIF grant for Tony Delgado’s South Guinea property: $25,000 would reimburse the city for the property purchase and $25,000 would fund improvements once the building is erected; contractor DC Meadows expected on site Dec. 1.
The Mount Carmel City Council approved a one-time $50,000 tax-increment financing (TIF) grant for a downtown redevelopment project proposed by Tony Delgado.
Mister Turner (speaker 2) said Delgado purchased the South Guinea property for $25,000 and Moran recommended a $50,000 TIF grant from TIF 6. Turner explained the proposed disbursement: the first $25,000 would reimburse the city’s general fund for the purchase, and the remaining $25,000 would be released for building improvements once construction is complete.
Delgado (speaker 4) told the council that site preparation is underway and that DC Meadows has targeted Dec. 1 to begin construction, weather permitting. “We got the gravel down there, and I think we're right at the point where the gravel you see piled up down there is what they're gonna use to level everything out yourself when they get here,” Delgado said, adding he expects construction to proceed quickly once crews arrive.
The clerk recorded a motion, a second and a roll call approving the grant. Turner also provided context on TIF balances later in the meeting: TIF 5 roughly $447,000 (expiring in January), TIF 6 about $469,005.20 and TIF 7 approximately $1,600,000.
What’s next: the grant award will be applied as described by Turner; the council did not review a detailed improvement schedule or final construction timeline at the meeting.