On Air Now

City to discuss TIF and facade money for Seminary property

City administration is recommending that Galesburg alderman approve up to $220,000 in TIF funds for a dilapidated downtown property.

Developers Joseph Mangieri, Randy Conlon and Steve Gerstenberger have almost $1.1 million in work that needs to be done at 180 S. Seminary, across the street from the Amtrak Depot.

Part of the work is developing the space into four separate tenant spaces, replacing the roof and the door just to name a few items.

WGIL previously reported Cornucopia/Uncle Billy’s Bakery will be one of the building’s eventual tenants.

The developers are proposing to finance the project with owner’s equity from F &M Bank with tax incremental financing funds filling in the gaps. 

The building is in Galesburg TIF redevelopment area 4 and they could receive up $220,00 in TIF funds over the next three years.

The businessmen are also looking for up $80,000 in the form of a facade grant with $185,000 in total work needed on the building’s front.

Also council will put go out to bid to replace ramps at Kiwanis Skate Park for $8,000.

Recommended Posts

Loading...

Share Contact

contact-chris-mcintyre-qr-code