TIF Discussions Set for Downtown Parking Lot, YWCA

TIF Discussions Set for Downtown Parking Lot, YWCA

Photo: Newsradio WTAX

Big plans could soon start taking shape in downtown Springfield. Aldermen aren’t sure what they are yet, but first thing’s first: purchase the land.

The City Council will begin discussions this week on using 1.5 million downtown Tax Increment Finance dollars to purchase a large parking lot and the old YWCA.

“What I would envision is some type of mixed use project that might involve some retail, might involve some office, might involve residential all mixed in together,” said Springfield Mayor Mike Houston.

The downtown TIF expires in 2016. The district will keep property values as they are now, and when they go up, they’re funneled back to the developer to subsidize the project.

The council begins discussions tomorrow and final approval is likely next week.

“It is a very, very¬†ugly piece of property that really sits right in the heart of the State Capitol Complex as well as the downtown,” said Houston.

Most of the property has been a parking lot since the Hotel Abraham Lincoln was demolished in 1978.

Recent Headlines

in Local

Ball-Chatham Teachers, School Board Approve New Contract


A total of six percent-plus pay raises over three years.

in Local

Butler Supports Rauner’s Refugee Move

Rep Tim Butler

State Representative Tim Butler stands behind Governor Bruce Rauner in temporarily halting the admission of refugees from Syria into Illinois.

in Local

Pension Benefits Cut for New Firefighter Hires

fire truck

Firefighters hired from here on out for the Springfield Fire Department will not receive a perk that current firefighters get.

in Local

Appeals Court Upholds Beason Murder Conviction


The Fourth District Appellate Court has upheld the convictions of a man for fatally beating five members of his ex-wife's family in their central Illinois home.

in Local

Judge Will Not Reinstate Bloomington Murder Charges


A McLean County judge has turned down a prosecution request to reinstate murder charges against a Bloomington woman in the death of her young son.