Geneva Committee Recommends $2M TIF Redevelopment Deal for E. State Street Project

Geneva City Council members have recommended a $2 million tax increment financing deal for the redevelopment of 122-130 E. State St. by Great Western Flooring. The project includes a mixed-use commercial building with a design center and retail space on the first floor, as well as 14 apartments on the upper floors. The city’s support will cover 25% of the project cost, with the rest being invested by the company.

The redevelopment plan aims to revitalize the area by redeveloping vacant properties, enhancing the streetscape, and providing opportunities for local businesses and job training. The project is seen as a key step in connecting the east and west sides of the Fox River.

While some council members expressed concerns about the cost increase and the affordability of the studio apartments, overall, there is strong support for the project. The final decision will be made by the city council, but the proposal is seen as a positive step towards the revitalization of East State Street.