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April 25, 2014, 12:08 am
970 WMAY News

Aldermen Approve TIF Funds for Blood Center Development


Springfield aldermen approved an ordinance that would give the Central Illinois Community Blood Center just over $1.9 million dollars in Tax Increment Finance Funds from the Park South district for a new building. 

 

The developer, a non-profit, will use the money to build a new 24,000 square foot building on two vacant lots just south of Stanford on 10th Street.  This will be the site for the blood center's storage and labs.

 

Aldermen Joe McMenamin had a laundry list of objections for using the TIF funds for the project.  Among those reasons, McMenamin says the Blood Center won’t build upon the tax base.

 

He says another development that could improve the tax base would be more suited for that area and the TIF funds could be used for another project to beautify an area of downtown.

 

The vote was 9-1 with McMenamin as the lone no vote.

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