| | | | | | | | DATE:
| 2/15/2023
| MEMO:
|
| TO:
| Mayor Julie Moore Wolfe
City Council Members
| FROM:
| Jon Kindseth, Deputy City Manager
|
|
| | | | | | | | SUBJECT: Resolution Adding Territory to the Decatur Macon County Enterprise Zone - Garfield School Site and Jasper/Grand Area (Durfee Site) |
|
| | | | | | | | SUMMARY RECOMMENDATION: City staff recommends approval of this item amending the boundaries of the Enterprise Zone. |
|
| | | | | | | | BACKGROUND: In the interest of community growth and the economic competitiveness of the region, the Decatur-Macon County Enterprise Zone administration board, in cooperation with local governmental bodies and key community stakeholders, have determined that it is in the best interest of the region to submit the enclosed property for inclusion in the Decatur-Macon County Enterprise Zone to increase their viability for redevelopment. In recent history the Enterprise Zone has been successful in fostering growth within the Decatur Metropolitan Statistical Area (MSA) by reducing the communities estimated poverty rate from 18.4% in 2015 to 15.2% in 2020. However, areas of persistent poverty remain. This proposed addition is located within Census Track #6/Macon County/IL which has an estimated poverty rate of 63.9% as of 2020. Economic incentives such as Enterprise Zone benefits are often key factors in private investment into destressed areas. This agency, along with key community stakeholders, feels that the addition of this land is vital for the continued growth and economic wellbeing of Macon County and its citizens. |
|
| | | | | | | | STAFF REFERENCE: Additional questions can be forwarded to Jon Kindseth, Deputy City Manager at 217-424-2801 (jkindseth@decaturil.gov). |
|
ATTACHMENTS: | Description | Type | Resolution | Resolution Letter |
|
|