The Alton City Council has approved an agreement that is expected to bring to a conclusion to long-needed repairs to the Cracker Factory building on Broadway, which was damaged about five years ago during a storm. The top floor was leveled and street level businesses were forced to move out and owner Mike Kelly has had a few setbacks during the repair process.
The total cost of the project is estimated to be about $1.3-million, of which the city is spending about $332,000 in TIF Funds, which represents the normal 25% match. The agreement gives Kelly until the end of this year to finish the work. Kelly says the redevelopment will return the building to a position of viability in the local business community:
Click here for Kelly's comments
In other council business, the city unanimously approved moving forward with a memorandum of understanding to enter into an agreement to pursue a hotel and conference center along the riverfront.