New Pilot Program Will Provide Integrated Set of Resources To Continue Revitalization of Aurora’s Riverfront
CHICAGO – Gov. Rod R. Blagojevich announced today that the City of Aurora has been certified as the first River Edge Redevelopment Zone, which is an innovative new pilot program designed to help revitalize riverfront areas by providing local developers and businesses with the critical tools to revive and redevelop abandoned or contaminated properties that will stimulate economic development opportunities and create more Illinois jobs. The River Edge Redevelopment Initiative includes the designation of redevelopment zones that will be eligible to receive tax credits, exemptions and new grant funding to support clean-up, remediation and redevelopment efforts that will lead to economic revitalization in these areas. This initiative combines resources across state agencies and will be administered primarily by the Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois Environmental Protection Agency (IEPA).
“We are targeting areas of the state that have the greatest need for redevelopment and potential for growth. River communities, like Aurora, were the original economic engines of Illinois, and there are underutilized and abandoned properties along major waterways prime for redevelopment. This River Edge Redevelopment Initiative will provide Aurora and local businesses with the additional resources they need to be able to clean-up brownfield sites, which is going to attract more businesses and put more people to work,” Gov. Blagojevich said.
The City of Aurora River Edge Redevelopment Zone consists of former industrial land lining its east and west riverfronts that have tremendous economic development potential, but the cost of redevelopment have made attracting investment extremely difficult. This zone is structured similarly to the current Enterprise Zone designation, where Aurora, East St. Louis and Rockford apply directly to the state to become a River Edge Redevelopment Zone as part of this pilot program. Since the Aurora zone has been approved, developers and businesses could be eligible for tax exemptions, including sales tax on building materials, an investment and jobs tax credit and various other deductions. Companies or individuals in the zones could also be eligible for an environmental remediation tax credit for certain clean-up costs.
Municipalities, developers and companies located in these zones could be eligible to receive funding to support infrastructure needs for economic revitalization projects, which will ultimately lead to job creation
and economic development in a zone. While many of these areas were home to former industrial sites, they are now ideal settings for new residential, office, warehouse/distribution, retail, recreational, hospitality, commercial and other productive land uses.
The Governor has also provided Aurora with a more than $27,000 Recycling Expansion and Modernization (REM) Program grant from DCEO to develop and implement a total waste management plan for its riverfront. The waste management plan will complement Aurora’s overall goal of incorporating principles of sustainable design in the redevelopment effort. Total waste management will help reduce the amount of construction and demolition debris requiring land filling and will reduce the volume of imported fill required to support development activities. Aurora can establish itself as a progressive riverfront community that recognizes the inherent value of sustainable design by adopting a total waste management plan to foster redevelopment along its riverfront.
“This is going to be an important tool that is going to help Aurora attract new companies and jobs to an area of this city that has been begging for redevelopment. I look forward to continue working with Gov. Blagojevich, Representative Linda Chapa LaVia and Mayor Weisner to make this pilot program a tremendous success,” State Senator Linda Holmes (D-Plainfield) said.
“Gov. Blagojevich and I are committed to ensuring that our river communities won’t sit on the sidelines as important redevelopment projects float past them. This creative pilot program will provide businesses in Aurora the tools they need to spur renewed interest in prime properties that once were and still can be key components of Illinois’ economy,” said State Representative Linda Chapa LaVia (D-Aurora), who sponsored Senate Bill 17 that created this pilot program.
“We are very focused here in Aurora on revitalizing land that has languished for years and creating new jobs and economic development. Gov. Blagojevich and I understand that by making this kind of important investment, we can open the door to economic development opportunities that have been closed for far too long,” said Aurora Mayor Tom Weisner, who helped develop the concept of River Edge.
“In Aurora, we constantly hear about the need to redevelop old, underutilized and contaminated properties. But developers and businesses generally won’t make significant investments in areas that require significant amounts of remediation. The River Edge Redevelopment Initiative will provide vital resources to offset some of these costs so we can bring more opportunities and jobs here. Gov. Blagojevich and I want to thank Rep. Chapa LaVia and Aurora Mayor Weisner for working so hard with us to make this innovative new pilot program to grow our economy a reality,” DCEO Director Jack Lavin said.
Brownfields are abandoned, idled or underused industrial and commercial properties that have actual or perceived contamination and an active potential for redevelopment. Brownfields vary in size, location, age and past use, and can include contaminated land varying from a multi-acre closed factory to a vacant gas station. While brownfields were once considered to be only an environmental health issue, they are now fully recognized as areas with the potential to play a vital role in the economic development of a community. In Illinois, there are an estimated 7,000-10,000 brownfields sites in need of remediation.
“Aurora has developed a plan for sensible growth and, as the first community to be certified as a River Edge Redevelopment Zone, it deserves to be acknowledged,” said Illinois EPA Director Doug Scott. “Its plan to revitalize land that has been abandoned for years is a not only a good example of environmental stewardship and social responsibility on the City's part, but it is also a fine economic enhancement model for other river communities throughout the state.
Since Gov. Blagojevich took office, the clean-up of contaminated sites has accelerated in Illinois with thousands of acres at more than 400 sites cleaned up for redevelopment, recreational or natural habitat use. Through the Municipal Brownfield Redevelopment Program, the Illinois EPA has provided the initial funding and customized technical assistance for environmental assessments and clean-ups for 128 municipalities, of which 44 are located along rivers. These grants of up to $240,000 each per community have been the catalyst for future redevelopment in such river cities as Aurora, East St. Louis, Alton, Dixon, Freeport, Geneva, Ottawa, Peoria, Rockford, Sterling, Streator and the Quad Cities. This initiative leverages these investments already made in these river communities.