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Greater Freeport Partnership: $725K in state grants secured; seeks 85-acre Lena enterprise-zone expansion
Summary
The Greater Freeport Partnership reported helping to secure $725,000 in state grants and is pursuing an 85-acre expansion of Lena's enterprise zone that would exempt builders from sales tax on materials and provide a three-year property tax abatement that transfers to homeowners; GFP also previewed a June 6 cycling event that will close Shippee Road.
Andrea Winter, representing the Greater Freeport Partnership, told the Committee the organization "helped to establish $725K worth of State grants to the surrounding area," citing economic development activity in the region.
Winter said GFP is working to expand Lena's enterprise zone by 85 acres, noting the expansion will add platted, undeveloped subdivisions to the zone. She explained the change "allows the builder/buyer no sales tax on building materials, and 3-year property tax abatement that transfers to the homeowner," a package the presentation said is intended to make new construction more affordable for builders and eventual owners.
Nicole Haas, also of GFP, reviewed outreach and events in the partnership's newsletter and described the Free-Aquana Cycle: "The Free-Aquana Cycle will take place on June 6th from McHenry to Galena to Quad Cities through Ottawa, a total of 500 miles." She noted Shippee Road will be closed on June 6 and that Chief Lamphere will coordinate traffic control and signage with the county; GFP is seeking funding from IDOT for the event.
GFP also said there will be a Pilot Memorial Dedication at the end of May. President Steve Buss thanked GFP for its work and for coordinating the projects with local staff.
Why it matters: expansion of an enterprise zone and a package of tax incentives can influence local development patterns and housing affordability; the road closure and event coordination have immediate traffic and public-safety implications for residents.
