The Miracle Mile rebound: A Rockford TIF success story

7955_g12c0000000000000008c5776dbb3a4c20cb254ac510f1a2c0700b757a0Article in the Rockford Register Star | | By Corina Curry

Teska Assisted TIF Proves Major Success in Rockford’s Primary Commercial Corridor: “Shopping centers have new facades. Stores and restaurants are making interior upgrades. New sidewalks have been added. Two hotels were remodeled. A new drugstore opened. The bowling alley got a face-lift and added a new off-track betting business from up the street.”

FACTS: “The State Alpine TIF has a positive fund balance of $321,300. It produces $262,500 worth of property taxes each year that can be used to subsidize future projects. By the time the district closes in 2029, the district will have generated $4.74 million, money that the organization likely will use to tackle the vacant grocery.” | Full Article