The City of Vandalia’s TIF Advisory Committee has recommended two projects for TIF funds.
The first application was from Charlie Pryor and Mary Nash for property at 1002 W. Jefferson Street. They are fixing up the property and hope to rent the space to a business in the near future. The TIF Committee recommended 25% of the renovation cost, or $37,117.25 in TIF funds.
The second application was from Bryan Hosick for purchase and renovation assistance at 827 Veterans Avenue—which is the former County Market property. Hosick, who is the owner of Hosick Motors, says by moving the dealership to the Veterans Avenue location would allow them to get at least 1/3rd bigger and he would look to add several employees and expand their service department to handle more heavy duty trucks–such as wreckers and similar sized vehicles. The TIF Advisory Committee recommended 25% for acquisition and 25% for renovation from TIF funds—which would be $771,159.50. City Administrator LaTisha Paslay did mention the possibility of breaking the money up for payment over multiple years.
Both TIF recommendations now go before the Vandalia City Council at Monday’s meeting. The City Council can go with the recommendations of the committee or make a completely separate decision.
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