PINCKNEYVILLE – Pinckneyville commissioners on Monday approved a series of resolutions that will allow McDaniel’s
Furniture and Appliances, Inc., to acquire property owned by the city on State Route 154.
The move is part of a comprehensive plan aimed at improvements in the city’s commercial district and infrastructure using money from Pinckneyville’s tax increment financing (TIF) fund and other sources.
Under the agreements approved on Monday, McDaniel’s will acquire and renovate the former Illinois Fish Farmers Cooperative building, along with approximately 4 acres of ground on the property.
Economic developer Jeff Ashauer told the council the the remaining 4 acres on the west end of the site can be targeted for development in the future. The deal calls for a 25-foot vehicle easement on the west side of the building to allow for parking and traffic lanes should another business construct a facility on the lot.
Ashauer said funding for the project will come from McDaniel’s, the city’s revolving loan fund, the intermediary loan fund and from Pinckneyville’s TIF account.
All told, the total projected cost for the project is $793,750. Of that amount, $250,000 will come from TIF funds, $150,000 from the intermediary loan fund and $50,000 from the city’s revolving loan fund. McDaniel’s will pay $100,000 toward the project. They will pay off their debt to the revolving loan fund under a 15-year agreement, with a 3 percent interest rate. The city will acquire McDaniel’s current property on the north side of the courthouse square.
Commissioners approved three resolutions and a TIF redevelopment agreement required to authorize the plan, with Mayor Ron Shirk casting his vote against each of the proposals.
In other business, Commissioner Fred Pabst asked for council approval on an ordinance regulating development of the city’s floodplain to meet federal and state requirements.
Chris Wilson of HM&G Engineering Firm told the council that he believes the Illinois Department of Natural Resources will require the city to evaluate development in its floodplain area. However, Wilson anticipates that evaluation should require no changes to developments in the area.
“I think the IDNR just wants the city to monitor the area so something bad doesn’t happen,” Wilson said.
The council approved an ordinance regulating development in the floodplain and placed on file a resolution to allow HM&G to conduct field surveys and a hydraulic evaluation in connection with the city’s floodplain and participation in the National Flood Insurance Program.
–Craig Shrum
