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Board approves redevelopment agreement for Project Lilac, offering eight-year 50% TIF rebate
Summary
The county board authorized a redevelopment agreement with Rock 39 LLC for Project Lilac, a proposed 1.2 million-square-foot distribution facility. The TIF-backed package includes an eight-year, 50% rebate of the TIF increment; county officials said the development could generate construction jobs and future tax revenue after TIF expiration.
Winnebago County Board members voted March 26 to authorize a redevelopment agreement with Rock 39 LLC for Project Lilac, a large industrial distribution project in the Baxter Road industrial zone.
Economic-development committee members described the package: Project Lilac would encompass roughly 1.2 million square feet,…
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