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Council approves sending River Edge Redevelopment Zone application to state, citing property tax rebate incentives
Summary
City staff told the Moline City Council the proposed River Edge Redevelopment Zone would cover roughly 4,500 feet from the river and could provide access to historic tax credits and a property tax rebate (staff cited up to ~90%); council asked for clarity on interactions with TIF districts and impact on other taxing bodies before endorsing the application to DCEO.
City staff told the Moline City Council they are ready to submit a River Edge Redevelopment Zone (RERZ) application to the Illinois Department of Commerce and Economic Opportunity and asked the council to approve sending the application to the state.
Mister Mathias said the proposed zone would cover roughly 4,500 feet from the river and is intended to incentivize rehabilitation of older, historic buildings. He told the council the…
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