The Commercial-News, Danville, IL

September 21, 2012

Tilton board OKs rebate proposal

BY KIM LUTTRELL
Commercial-News

TILTON — Village trustees heard Thursday night from Keith Moran about a proposed economic development agreement he ironed out with the owner of the new Super Wash car wash in Tilton.

Moran, president of Moran Economic Development of Edwardsville, represents the village in tax increment financing matters as well as economic development projects for the village.

Moran told the trustees the car wash is a good example of what TIF funds can do to spur economic development.

"You basically had an empty lot there before that was bringing in no revenue for the village," Moran said. "Now with a minimal investment of TIF funds the village now has a small business that will generate $8,400 annually in tax revenue for the village."

The agreement Moran presented to the board — which they approved — calls for the village to rebate $4,200 to the car wash each year for two years as reimbursement for certain expenses that are allowable under the TIF statutes.

Moran said that was a small price for the village to pay to get a good business for that location.

"The owner made a major investment to build his business, about $704,000, so this a small price for the village to pay to get such an investment in the village," Moran said.

In other board action, trustees:

Approved payment to Thomas Excavating of Tilton of $15,425 for equipment rental for ball park improvements and also to demolish a house at 907 Ferndale and another at 110 W. 3rd St.

Approved having Thomas Excavating to demolish a house at 1008 Central Avenue and the old ambulance house at 119 W. 5th Street at a cost not to exceed $12,000.

Declared a lot at the corner of L Street and 7th Street as surplus property. The board will accept sealed bids for the property. The minimum bid is set at $4,000.

Approved having the village attorney draw up a gaming ordinance for the village.

Will sponsor a movie in the ballpark at 7:15 p.m. Sept. 29.

What’s next

Tilton Village Board members will meet at 6 p.m. Oct. 18 in the municipal building.