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New Main St. Project Asks For Taxpayer Help

Mon, 15 Jul 2013 12:10:59 CDT
By: Haley BeMiller

New Main St. Project Asks For Taxpayer Help The Town of Normal is talking about taxpayer help for a proposed new Main Street development. A group called Normal Flats LLC wants to put up a six-story building south of Meatheads on Main Street. It would have retail and parking on the bottom and apartments for up to 250 people on top. Normal Flats wants the Tax Increment Financing District help to offset land prices and construction costs. The group is asking the town for nearly $1.8 million over a decade. The TIF District would also generate an estimated $1.5 million after the agreement expires that the town could use to stimulate other development in the Main Street Corridor. Normal Flats would use the appearance and building standards of the Town's voluntary Form based code if the Town Council approves the project.

   

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