Rockford City Leaders debate: are more TIF Districts Needed?

Rockford's Planning and Development Committee passed a memo that will remove several parcels of land from the East Side and East River TIF districts and combine them with a new TIF.

The proposed Jefferson and North Third Street TIF district will give developers a tax break. A retail commercial building was recently constructed in the proposed district. Parking for the Social Security Building will also be provided in the new strip mall.

A Dollar Tree Store, set to open soon, now occupies a portion of the new building. One requirement of a TIF is that development would not take place, but for the creation of a TIF.

Alderman Karen Elyea said "obviously the strip mall is already in place well before the TIF has been created, which basically says the deal has already been made."

Alderman Leonard Jacobson explained "it's been since the mid 90's, 95' since we've had development from the private sector for businesses building in downtown Rockford. So I'm pretty excited about that."

Many city leaders say a dollar store is not what downtown needs. While others believe new construction and businesses are necessary to its revitalization.  

The proposed TIF district was sent to the council floor and no action was taken tonight. A final vote will be made in the upcoming weeks.