City of Alton - Committee of the Whole Meeting
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ALTON - A redevelopment agreement is moving forward as a Godfrey business relocates to a former Credit Union building in Alton.
Alton Committee of the Whole members on Monday approved a redevelopment agreement with LDMG Ventures LLC for improvements to a building at 3401 E. Broadway in Alton.
The scope of the project consists of “exterior building improvements including TPO roof replacement” at a total cost of $84,281.55. The city would agree to provide $21,070 in Tax Increment Financing (TIF) towards the project.
The former site of 1st MidAmerica Credit Union, the building was also previously slated to become the next Alton Dispensary location before a City Council vote effectively shut down their reopening plans.
While Planning & Development Director Greg Caffey didn’t share the exact name of the business moving in, he described it as a print signage company relocating from Godfrey to Alton.
“The subject property was recently acquired for the opening of a business that’s relocating from Godfrey to Alton,” Caffey said. “It’s a print media corporation. They do commercial signage … they recently acquired the building, so they’re renovating for the opening of that business.”
More details about the business, including its number of employees, were not yet known at the time of the meeting.
The redevelopment agreement now faces full approval from the City Council on Wednesday, Oct. 23, 2024. Follow the discussion and vote on that and other agenda items live on the Riverbender.com Facebook page or Riverbender.com/video.
A full recording of the Oct. 21, 2024 Alton Committee of the Whole meeting is available at the top of this story or on Riverbender.com/video.
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