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Sun February 7, 2010
Hamilton Working On New Business, TIF District
Hamilton, IL – Westmore Equities (Chesterfield, MO) wants to construct a 91,000 square foot building along Highway 136. The Hamilton City Council has been working to make that a reality.
Mayor Steve Woodruff says the panel has annexed the home at 2083 Keokuk Street (Highway 136) into the city. He says that will allow Westmore Equities to purchase it and a couple other lots.
Woodruff says the council has also tried to address the company's concerns about the city's potential TIF district. He says as long as a TIF district is created, the company's new building will be included.
Woodruff says Westmore Equities will eventually lease its new building to Dollar General Corporation. He says the store should be ready by August.
Woodruff says Westmore Equities should take ownership of the land necessary for the building in the next few days. He says demolition could get underway shortly afterwards.
Hamilton is still working on the details of its proposed TIF district.
Mayor Steve Woodruff says Teska Associates (Evanston, IL) has already told Hamilton that the city can handle the creation of a TIF district. He says the next step is to determine the boundaries.
Woodruff says the district will likely run along Highway 136, from the Ayerco Conveniance Store to the industrial park on Hamilton's east side. He says Teska Associates is currently reviewing all of the properties in that area.
Woodruff says the goal is to contain the size of the district so as to not hurt the city, the park board, and the school district. He says the TIF district would help Hamilton recruit businesses.
Woodruff expects to get an update from Teska Associates in about one month.