State Street Bank and Trust Co. recently issued the following announcement.
When: Wednesday, June 19, 2019 at 5:30 PM – 8:30 PM CDT
Where: O'Connor Wealth Management
511 Maine St, Quincy, Illinois 62301
The District and State Street Bank will be hosting a seminar on the Downtown Residential Redevelopment Program (DRRP) on Wednesday, June 19 at 5:30pm at O'Connor Wealth Management Office at 511 Maine St.
The City of Quincy and The District realize that one of the most significant challenges to further development of our historic downtown is the shortage of market rate apartments.
In partnership with the City of Quincy, The District continues to promote development of 2nd and 3rd floor vacant and underutilized spaces in historic downtown buildings.
Confirm your attendance for the DRRP Seminar by emailing:
info@thedistrictquincy.com
The City of Quincy is offering Tax Increment Finance (TIF) funding to assist redevelopment proposals for upper story residential renovation projects that develop market rate rental housing units. The City is requesting building owners to submit proposals for upper-story residential redevelopment projects that will increase market-rate housing opportunities in downtown Quincy.
Buildings located within the City TIF districts will be eligible for:
-Up to $25,000 in matching funds per market rate unit of TIF funding
-Sales tax exemption on building materials.
-Reduction of 50% of building permit fees.
This seminar will assist developers in any questions on the program and the application process. The applications are due no later that 4pm on August 8, 2019.
Click here to see a map of Quincy's TIF Districts:
https://www.quincyil.gov/home/showdocument?id=824
DRRP Schedule and Guidelines can be found online at
Have questions? Please email info@thedistrictquincy.com or call 217-228-8696
Original source can be found here.
Source: State Street Bank and Trust Co.
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