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Tax Increment Financing Passed for Belleville Hotel Development

Residents across the nation are typically not thrilled about taxes, let alone about tax increment financing (TIF) to help raise money for city projects. However, the city council of Belleville, Illinois just passed a TIF in order to raise money for a new hotel, convention center, and restaurant complex to be built.

The new development will be located just across Highway 15, from the National Shrine of Our Lady of the Snows. Since the Lady of the Snows owns the land where the development is said to take place, the shrine partnered with Effingham in order to design the complex. The developers at Effingham said that they would front $60 million for the build, as long as the city would grant them $6 million – which is where the TIF comes in. The complex would be complete with a hotel, 30,000 square foot convention center, and around nine new restaurants – one of which is Hofbrauhaus brew pub.

It did not take much discussion for the Belleville City Council to vote “yes” on the deal, deciding 14-1 in favor of the tax breaks. The one vote “no” came from Councilman Mike Beuttner, who said that he just does not see how the complex is going to generate enough money for the area. Since the Belleville complex would be located in the western outskirts of town, other locals who oppose the plan say that the city council should be focusing more on downtown, “core of the city” efforts.

If you are moving to Illinois and the outer edges of Missouri, Belleville movers are at least proud to say that there will soon be much more to do in the area and more great restaurants for you and your family to enjoy.  Be sure to check out the new convention center for local events, and try the brew house and seven other restaurants once construction is completed.

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