An 18-month process to bring a Tax Increment Financing District to Jerseyville is nearly complete, with the city council approving the measure last week. Three ordinances are now on the books, and the next step will be for the county clerk to put the TIF in place and create a TIF board that will review project applications.
Keith Moran, President of Moran Economic Development, says the hope is to rejuvenate downtown.
He says while Jerseyville has done a great job of attracting business to the community, it has done so without many of the traditional financial tools, such as a TIF, a business district or an enterprise zone. The TIF covers what is basically the main route through town, excluding established businesses such as Wal Mart, R.P. Lumber and the new John Deere dealership.
You can hear the full interview with Moran by clicking here