| Friday, October 12, 2007 4:50 PM CDT |
House votes to extend Mount Zion TIF district
SPRINGFIELD -- The Illinois House voted Thursday to extend the life of the Mount Zion tax increment financing district, potentially paving the way for more commercial and retail development in the Macon County community.
On a 109-3 vote, the House overrode Gov. Rod Blagojevich’s earlier veto of the measure, which will allow the village to continue the district for another dozen years.
The Senate earlier overrode the governor’s veto on a unanimous vote.
Mount Zion Mayor Don Robinson was ecstatic about the news.
“I think that’s absolutely fantastic,” Robinson said.
TIF districts offer developers tax breaks as a way to jump-start development in communities across the state. Mount Zion’s incentives were set to expire in 2009.
In vetoing the extension in August, Blagojevich didn’t lay out why he objected to the proposal.
But, now that the measure will go into effect, Robinson said the village can get back to assuring potential developers that the incentives will be on the books.
“Until now, we really didn’t know if we’d be able to continue,” he said.
Among potential developments is an assisted living facility for senior citizens, Robinson said.
The measure was sponsored by Senate Minority Leader Frank Watson, R-Greenville, and state Rep. Bob Flider, D-Mount Zion.
The legislation is Senate Bill 247.
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