CDFA is proud to announce the new CDFA.net website. A year in the making, this new site provides all of CDFA's vast resources with better style, navigation and resources. New additions to the website include state focus pages. Check out events, news, and resources available in Illinois and all that we have to offer today.

Marengo's Revolving Loan Fund is an economic incentive tool that allows the city to offer low-interest loans to businesses that want to expand or relocate to Marengo, but the last time a business took advantage of the program was two decades ago. The account has $320,739 left in it.

The city issued a $5 million bond in 2006 to help pay the $20 million construction cost of Five Points Washington. Since then, revenue from a 0.25 percent increase in the city's sales tax that went into effect in 2006 has been used to pay off the bond.

Elimination of the revolving loan fund would have meant the village would have been able to retain about $422,840, which the Village Administrator said could have been used for the more frequently used microloan program, which is free of federal restrictions.

Marino is asking the city to establish a Tax Increment Financing district that would reimburse him for some of his expenses as the former factory campus is redeveloped and property values increase. A TIF district feasibility study is being compiled as negotiations with Marino continue.

The legislation, introduced by Republican state Sen. Chapin Rose of Mahomet and Democratic state Sen. Andy Manar of Bunker Hill, would provide incentives to produce and sell new renewable products made from biomass and other renewable sources.

This course will consider how incentives are being used in today's economic environment and outline steps that are being taken to reduce risk and achieve better outcomes. In particular, this course will address the characteristics of well-designed incentive programs and processes to ensure meaningful impact, value, and accountability.

Join the CDFA Illinois Financing Roundtable for a special one-day conference hosted at the offices of Seyfarth Shaw LLP.. This event will feature a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the Illinois economy going forward.

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