Champaign City Council votes to support economic development projects
CHAMPAIGN— The Champaign City Council took action on Tuesday to help bring about four different economic development projects in the city — one to the north, one to the south, one in Campustown and one to the west.
Parking Lot J
The council voted 9-0 to amend the development plan for Campus Center (Parking Lot J) in Campustown.
Members authorized City Manager Dorothy David to execute a development agreement with Campus Center LLC to build a hotel, residential units, commercial space and a parking garage on the site of Parking Lot J at 524-526 E. Green St. and 601 S. Sixth St.
"This will be a benefit to the entire community," said council member Tom Bruno. "We now have a private developer about to spend $35 million to build housing, parking and a hotel. This is a good infusion for our community and will provide jobs for lots of people."
The council voted 8-1, with Will Kyles voting no, to authorize David to execute a development agreement with 2006 Prospect Champaign LLC that would redevelop the former Circuit City building at 2006 N. Prospect Ave. for a proposed Gander Mountain store.
"We are crating an opportunity for a retailer who will become a destination retailer," said Mayor Don Gerard.
The council voted 8-0, with Kyles abstaining, to establish a new tax-increment-financing district for an area bounded by Bradley Avenue on the north, Glenn Park Drive on the south, Miller Avenue extended on the east and Mattis Avenue on the west.
A TIF district essentially links the amount of money taxing bodies get to levels based on assessments at the time the district is created. Any tax revenue over that amount as a result of property within the district being developed or improved would go into a fund to be administered by the city.
One major purpose behind this district is to redevelop the former AC Humko site for a proposed 730,000-square-foot warehouse for Kraft Foods.
The council voted 9-0 to approve a final subdivision plat for the Carriage Center subdivision.
Plans call for dividing 17.7 acres on the northwest corner of Devonshire Drive and Neil Street into 11 lots.
The plat will create lots the developer can sell to future property owners.
"Tonight is a great night for the city of Champaign," Gerard said after the four projects were approved. "We have much brighter days ahead."