|From:||Lenny Siegel <email@example.com>|
|Date:||7 May 2006 04:40:56 -0000|
|Subject:||[CPEO-BIF] River Edge Redevelopment (IL)|
Big bucks flow to riverfront|
Aurora, E. St. Louis to get state River Edge Redevelopment Initiative's $20 million
By Andre Salles Aurora Beacon News (IL) May 4, 2006
A new proposal that could bring million of dollars to Aurora for riverfront redevelopment passed the Illinois Senate on Wednesday and now awaits Gov. Rod Blagojevich's signature.
Aurora and East St. Louis will share in $20 million from the new River Edge Redevelopment Initiative, which offers tax incentives for businesses to develop old riverfront properties.
Many of these properties across the state are brownfields — sites which used to house industrial and commercial businesses and now require environmental cleanup before they can be developed.
Aurora has roughly a dozen of these sites ready and waiting, according to city economic development officials. State Rep. Linda Chapa LaVia, D-Aurora, helped introduce the pilot program that will put the city at the head of the line for the funding. Co-sponsored by State Sen. James Clayborne, D-East St. Louis, the pilot program establishes a five-year trial period in the sponsors' home cities, naming them the first redevelopment zones in the state.
For the entire article, see http://www.suburbanchicagonews.com/beaconnews/top/2_1_AU04_RIVEREDGE_S1.htm
-- Lenny Siegel Director, Center for Public Environmental Oversight c/o PSC, 278-A Hope St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/961-8918 http://www.cpeo.org
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