NORMAL ( 25News Now ) - A new Tax Increment Financing district development could be coming to the Uptown Normal area.
The project would target residential development north of Uptown Circle and the Constitution Trail, along Mulberry Street in Normal.
The Town Council approved holding a public hearing on the proposed TIF district during Monday’s meeting, with the hearing scheduled for sometime in November. If approved, property taxes generated from the new district would benefit the town, Unit 5 Schools, and other local entities.
The residential project comes after Mayor Chris Koos said COVID-19 derailed the previous Trail East and West development project, along with high interest rates. He said they are focused on meeting housing demand in the area.
“There is demand, people want to