[CPEO-BIF] River Edge Redevelopment (IL)

[Lenny Siegel <lsiegel@cpeo.org>]

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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