Case study | Funding and Grants
Shrine of Our Lady of the Snows Annexation
Details
Owner
City of Belleville, Illinois
Client
City of Belleville, Illinois
Project Cost
$52 Million
Status
Ongoing
Summary
Kaskaskia Engineering Group, LLC (KEG) provided annexation assistance and services for the expansion of the existing enterprise zone for the City of Belleville, Illinois for approximately 400 acres along Illinois Route 15, on the west end of the City. KEG worked in conjunction with Economic Development Resources, LLC (EDR) to generate exhibits and provided legal descriptions of the annexation and enterprise zone areas. Under the new enterprise zone, the commercial properties were eligible for benefits, such as abatement of sales tax on construction materials related to the project purchased in the State of Illinois and abatement of real property taxes for a set amount of time.
Project
KEG also provided valuable input to help create a business district and Tax Increment Financing (TIF) district for a 33-acre development within the newly annexed 400-acre property. The City, KEG, and EDR worked exclusively with Missionary Ventures, LLC to develop a plan that included two hotels with a ballroom/convention center, Hofbräuhaus Restaurant and Brew Haus, a gas station/convenience store with a fast-food restaurant, four (4) to-be-named restaurants, and a winery.
The new TIF district will capture incremental property taxes for a specified number of years and be returned to the developer. The proposed business district would allow the developer to charge an extra 1 percent sales tax within the development.
KEG assisted EDR with the Redevelopment Plan the development. The Redevelopment Plan provided a document that was used to record the eligibility for the TIF, provided a plan of action and steps to address the conditions found and assisted in the development of the area in conformance with the City’s Comprehensive Plan.
