There are ample opportunities for retail/commercial, office, and industrial development in the City of Jerseyville. The following provides information related to economic development in the community, from demographic and economic characteristics to available incentive programs.
CITY DEMOGRAPHIC INFORMATION
REGIONAL DEMOGRAPHIC INFORMATION
The following tables show the regional demographic information for a 5, 10, and 20 mile radius from the City.
TAX INCREMENT FINANCING
The City of Jerseyville currently has two tax increment financing (TIF) Districts. Tax increment financing is a development tool designed to help finance certain eligible improvements to property in designated redevelopment areas (TIF districts) by utilizing the new, or incremental, tax revenues generated by the project after completion. Upon the creation of a TIF District, the current property values within that district become a base value from which it cannot decrease. Any projects or improvements that cause an increase in value over that base would create an increment in value, and the incremental tax revenues from that increment in value are paid to a “special allocation fund”. The proceeds of the fund are then used to reimburse the developer for eligible project costs or to retire indebtedness incurred to cover those costs. Eligible project costs are the total of all reasonable or necessary costs incurred or estimated to be incurred and any costs incidental to a redevelopment plan or project. Specifically, these costs include, but are not limited to:
- Costs of studies, surveys and plans
- Professional service costs (architectural, engineering, legal, financial, etc.)
- Property assembly costs (acquisition, demolition, clearing and grading)
- Costs of rehabilitating, reconstructing, remodeling of existing structures
- Costs of construction of public works
- Financing costs, including issuance interest and reserves.
TIF District I Map
TIF District II Map
What is Tax Increment Financing?
Tax Increment Financing is a powerful tool that enables municipalities to self-finance their redevelopment programs. It is a local incentive program controlled by your Municipality, The increased property tax revenues are the source of the TIF increment. These TIF funds are used as incentives to help promote public and private development.
To retain and attract new businesses and industrial operations, as well as a highly qualified labor force, Illinois communities must enhance their competitive positions in the marketplace by rebuilding their aging infrastructure and upgrading older commercial centers, industrial properties and residential neighborhoods. TIF is the only locally controlled economic development tool available to Illinois.
How Does TIF Work?
A TIF District’s revenues (tax increment) come from the increased assessed value of property and improvements within the District. Once a TIF District is established the “base” assessed value is determined. As vacant land and the assistance, the equalized assessed valuations (EAV) of those properties increases. New property taxes resulting from the increased assessed valuation above the base value create an incremental increase in tax revenues generated within the TIF District.
The “Tax Increment” which is generated between the “base” EAV and the new EAV is captured, deposited into a special TIF account and used solely for economic development. The real estate tax increment can be used as a source of revenue to reimburse certain costs for public and private projects either by issuing TIF Revenue Bonds or by providing increment funds to developers on a “pay as you go basis”. All of the other overlapping taxing bodies continue to receive real estate tax revenue from the base assessed valuation.
The Jerseyville TIF District is a program available to assist redevelopers of developers with rehabilitation costs. Generally, the following costs are eligible for reimbursement in accordance with the TIF Act.
- Property Acquisition / Site Preparation
- Rehabilitation / Renovation Costs
- Architectural Fees
- Tuck Pointing
- Permanent Windows and Doors
- Painting’ / Trim
- Environmental Remediation
- Demolition & Removal
The items as described are only summaries of portions of the TIF program and may not include the necessary program requirements.
The City of Jerseyville Tax Increment financing programs are subject to available funds and programs may be suspended at any time. This summary is intended for information purposes and may have additional requirements for applicants to be eligible for a specific program.
A Tax Increment Financing District Does Not Raise Taxes!
Property owners may apply for the TIF program by submitting the following items as included in the formal application.
1. Owner contact information FEIN or Social Security Number.
2. Documented proof of ownership (current title work, closing statement or deed)
3. Tax ID Number
4. A brief narrative letter explaining the work to be undertaken.
5. Copies of all bid documents for general contractor and all sub-contractors.
6. Copies of all contracts between the owner, general contractor and subcontractor.
7. Financing information (letter of credit from a bank or proof of self-financing)
8. Individuals may be requested to submit three immediate past tax returns or pro-forma statements. If incorporated, Company returns are to be submitted as well as three year projections.
9. Current exterior and interior photograph of building as it presently appears.
10. If seeking Architectural Assistance, blueprints and color architectural rendering of how the property will appear after rehabilitation project is completed.
11. A proposed work schedule (start & completion dates)
12. Certificate of Insurance naming City as additional insured.13. All work MUST comply with all City Codes.
Please fill out the form to begin the process. Please use Adobe Reader or Acrobat Pro. After you have completed the form, save the pdf and email it to email@example.com.
Both Part A and B of the TIF Application must be filled out in their entirety to be considered as a complete application.
Downtown Accessibility (Elevator) Program
This program may assist property owners with making the upper floors of downtown buildings more accessible to persons with disabilities. The program allows property owners to (A) install ADA compliant elevators in buildings that do not have ADA elevators or (B) rehabilitate older, non-compliant elevators and make them compliant. The program only allows for one elevator per building and the elevator must service all floors (excluding the basement). An increment is available for up to 50% of all elevator related project costs or $50,000 whichever is less. If the building is serviced by at least on ADA compliant Elevator the property may qualify for the rehabilitation program.
The City of Jerseyville, its Dept. of Planning & Zoning reserves the right to change or suspend this program at any time due to unexpected circumstances or events beyond their control. Please contact the offices for the most recent program policies.
Approval and Reimbursement Process
1. A legal agreement will be prepared for the owner’s signature.
2. An Ordinance will be submitted for City Council approval upon recommendation of the TIF Advisory Committee.
3. The owner must record a copy of the signed agreement with Jersey County Recorders Office and provide a copy to the Jerseyville Dept. of Planning & Zoning.
4. Once the copy of the recorded agreement is provided to the Dept. of P & Z, you may begin working on the project.
5. After the completion of the project, all lien wavers, paid receipts, and Certificate of Final Completion must be submitted along with a current photograph(s) to the Dept. of P & Z.
6. After Review of all documents and verified by the P & Z, the City will reimburse the property owner as specified by the agreement.7. No monies will be paid up front.
Please contact the City of Jerseyville Department of Economic Development or the Jersey County Business Association for more information.
Director of Economic Development
City of Jerseyville
115 East Prairie Street
Jerseyville, IL 62052
Jersey County Business Association
209 North State Street
Jerseyville, IL 62052
Director of Building & Zoning and Director of Economic Development
City of Jerseyville
115 East Prairie St
Jerseyville, Illinois 62052
O: (618) 498-3312
RFQ/RFP: POTENTIAL SALE OF POTABLE WATER AND WASTEWATER FACILITIES AND SYSTEMS OF THE CITY OF JERSEYVILLE, ILLINOIS
The City of Jerseyville, Illinois, is soliciting bids from qualified utility companies to purchase and operate the City’s potable water wells, production and distribution facilities and system, and the wastewater collection and treatment facilities and system. The city has a population of approximately 8,500 persons located in Jersey County, Illinois, approximately 50 miles north of St. Louis, MO. These systems provide water and sanitary sewer service to 4259 metered customers.
RFQ/RFP submission forms, RFP Information Booklet, with all necessary background information and supporting documents may be obtained by emailing Jeff Soer, Director of Economic Development at firstname.lastname@example.org or calling at 618-498-3312. Potential bidders will be provided file-share links to the City’s online Dropbox to obtain this information. Sealed Statements of Qualifications (RFQ) and Confidential Bid Proposals (RFP) will be received by Jeff Soer, at City Hall, 115 East Prairie Street, Jerseyville, Illinois 62052 until 6:00 PM CST on August 15, 2017.
Please use the Link Below to access the REQUESTS FOR QUALIFICATIONS (RFQ) AND CONFIDENTIAL BID PROPOSALS (RFP).
City of Jerseyville Economic Development
115 East Prairie Street
Jerseyville Illinois 62052
Phone: (618) 498-3312