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LaSalle County approves Champlain Street jurisdiction transfer and Peru Midwest Industrial Nexus TIF agreement
Summary
The board approved Resolution 25‑30 to remove 0.94 miles of County Highway 20 (Champlain Street) from the county system and separately approved an intergovernmental agreement to form the Peru Midwest Industrial Nexus TIF, which captures incremental tax growth for up to 23 years; the TIF includes multiple taxing districts and a 15% surplus-sharing arrangement.
The LaSalle County Board voted Nov. 26 to remove a short segment of County Highway 20 (Champlain Street) from the county highway system and to approve an intergovernmental agreement creating the Peru Midwest Industrial Nexus tax‑increment financing (TIF) district.
County Highway representative Mr. Ernaud explained that the last segment of Champlain Street on the south end of Ottawa should be transferred to the City of Ottawa because the city already maintains adjacent segments after a prior transfer of Aetna Road. The board approved Resolution 25‑30…
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