Danville City Council members Tuesday cleared the way for what could be a significant improvement to the nortth side of downtown both in terms of appearance and in terms of assets for the city.
Trish and Toby Ceader want to convert what was once a large car dealership building into a day care and recreation center. The large building faces North Vermilion Street and has been vacant for years,
The Ceaders already operates an auto body repair business on the west side of the large lot, so they know the neighborhood. Trish Ceader will operate the day care. The plans call for up to 100 children from age 3 and older.
City council members on Tuesday agreed to commit $105,000 in Tax Increment Financing money toward the project. TIF funds are collected from property taxes within a specific area, then using for improvements within the area. The resulting increase in property value, over time, repays the TIF fund through property taxes on the improvements.
The move not only will help the Ceaders put a long-empty building back into use, but their plan will help fill a gap in daycare services created when officials at Second Church of Christ decided to close their large day care and use the space for church activities.
Filling the building not only will eliminate an eyesore along North Vermilion Street less than a block north of the Danville Public Library, but it will help boost values of surrounding property.
This is a case where city council members really put TIF funds to good use.