Whether or not Godfrey creates a new TIF District to help facilitate the construction of apartments next to Lewis & Clark Community College may be decided at tonight's Finance Committee Meeting. While the full village board will have the final say, the meat of such discussions usually happens in committee. Tonight's meeting will be held at the Godfrey Village Hall right after the Public Safety Committee, which starts at 5:30.
Contegra owns the land and Collegiate Housing Partners is building the housing at the end of Mulberry Street, which is across Godfrey Road from the fire station. Godfrey Mayor Mike McCormick says he has heard from those for and against the plan.
The land currently generates about $2000 in tax revenue, of which the village sees $45. If this project is built, it is estimated the village would see about $17,000 annually over the course of the TIF. The Village Board approved a motion to proceed with a plan to create a new TIF.
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