Capitol Fax.com - Your Illinois News Radar » Governor signs River Edge bill in Rockford… err… Aurora
* Press release… Gov. Bruce Rauner today signed Senate Bill 1783 , bipartisan legislation that extends the River Edge Redevelopment Zone tax credit program . The tax credit program has helped preserve historic buildings and grow local economies in the five communities where the credit is applicable: Aurora, East St. Louis, Elgin, Peoria and Rockford. “This program has already been a huge success,” Gov. Rauner said. “The River Edge Redevelopment Zone Program helps stimulate the state’s economy and the local economies where the program is available. It’s an important tool for municipalities to utilize to spur economic development while saving and restoring historic buildings , and it’s the right move to extend this program through Dec. 31, 2021, so these communities can continue to grow and prosper.” The redevelopment program is credited with creating a $10 return for every $1 of credit, and a series of success stories have materialized as a result of the program. For example, the...