Alton Considering Funding For Henry Street Building Project
ALTON - Another redevelopment agreement using Tax Increment Financing (TIF) is on the agenda for the Alton Committee of the Whole’s consideration and possible approval on Monday, Sept. 9, 2024. The item appears on Monday’s agenda as a resolution authorizing the mayor to execute a redevelopment agreement with Honke Properties LLC, in accordance with the city’s TIF program. The project consists of improvements to a piece of real estate whose legal description is associated with the address 307 Henry St. in Alton. This property is a multi-story brick building on the corner of Henry and East 3rd Street which houses multiple businesses, including Honke Properties. The full scope of the project includes “interior accessibility improvements, including elevator modernization and hydraulic jack replacement.” While the total cost of the project is estimated at $74,545, the City of Alton has agreed to contribute $18,636 towards its completion, according to
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