Alton Aldermen have approved TIF funding to help a local owner renovate a building on Broadway that has sit vacant for a number of years, with a new tenant said to be on its way to town. Nick Fencel owns the former Lynn Tractor building at the foot of Milton Hill. He says a service oriented business that services mostly power companies and refineries will be its new tenant.
The name of the company is Bolttech Mannings, and its website describes the company as a "a leader in specialty industrial bolting and thermal technologies by providing highly productive and cost-effective methods to various industries for nearly 35 years." Fencel says they will be bringing 25-30 jobs paying in the mid- 5-figures, and many of those will be local hires. The city has provided just under $20,000 in TIF Funds to upgrade the exterior of the building.