The Alton City Council has approved a lease agreement that will allow the owner of the old Cracker Factory building to continue repairs.   The building was damaged about three years ago during a storm.  The top floor was leveled during a wind storm, but the owner has been actively pursuing its restoration over the past several months.

The total cost of the project is estimated to be about $1.3-million.  Phil Roggio, Alton's Director of Development and Housing, says the agreement approved Monday night will allow the owner to lease a strip of property along Easton Street in order to reconstruct a portion of the building that includes a porch and balcony.

Roggio comments

In May, the city approved an agreement to get the ball rolling on the project.  The city is looking at spending about $332,000 in TIF Funds, which represents the normal 25% match.  This and other issues will be addressed at the full council meeting tomorrow night at 7:30.

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