(This is a summary of the city council meeting and business districts public hearing in Wood River).
WOOD RIVER - Public Hearings on amending Riverbender Business District #1 and creating Riverbender District #4 were held before the regularly scheduled Wood River City Council meeting.
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Adam Stroud of PGAV presented the information on both business districts.
The life of a Business District is 23 years and is voted on by the legislative body of a city. Once accumulated, the funds can be moved between business districts within a city limits, this practice is explicitly allowable by business district law.
Business District #1, which includes WalMart, will add the former Schnucks building which was demolished and is deemed blighted. Business District #4 includes the strip mall north of WalMart, along with approximately an additional 200 undeveloped property. This property is north and west of the existing businesses.
“The purpose for creating a new district, is to attract businesses and provide incentives to bring new business and new revenue, stated Mayor Maguire. Ten businesses are being added to Riverbend District #4 with half of those being mainly service businesses which do not generate a retail sales tax.”
In other action, the council members approved the following items:
Approval of an ordinance amending the Professional Engineering Agreement with Sheppard, Morgan and Schwab for the East End Detention Basin Project.
Approval of an ordinance authorizing the signage of documents for a loan with the IEPA regarding the East End Detention Basin Project.
Mayor Maguire remarked that this is a low interest of approximately 2% and has an estimated 25% loan forgiveness.
Old Business - Ameren Illinois is replacing 300 lights in the city with LED bulbs as part of their energy efficiency program.
New Business - The Immunotek company purchased the former Office Max building. Madison County is holding ewaste recycle days on Sept. 26th and Oct. 10th. Those interested should contact the county for signing up for recycling.
