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Enterprise
Zone
The Riverbend Enterprise Zone was created to assist business
located within a targeted area, which includes the Industrial
Corridor and the Alton Central Business District. Businesses
are given incentives such as investment tax credits, jobs
tax credits, utility tax exemption, sales tax exemption on
qualified building materials and potential property tax abatement.
The Riverbend Enterprise Zone is a multi-jurisdiction zone
which is administered for the City of Alton by Madison County
Community Development (MCCD). MCCD can be reached at 618.692.6200
ext. 4386.
Commercial
Facade Program
The Commercial Facade Program is available for commercially
zoned business generally located south of Homer Adams Parkway.
The program provides 25% reimbursement grant to improve the
exterior facades of a building. Maximum reimbursement of $7,500
for a single facade, $10,000 for multiple facades.
Commercial
Facade Grant Application
Loan
Programs
Madison County Community Development offers assistance in
the form of two loan programs. The Job Creation Loan Program
provides direct financing to businesses at a below-market
interest rate, in cooperation with private sector lenders,
to provide "gap" financing to expanding or new firms
whose projects create permanent jobs for existing qualified
low or moderate income individuals within the County. The
Infrastructure Loan Program provides low interest loans to
local governments for infrastructure projects that lead directly
to private sector investment activities that create or retain
permanent jobs for County residents.
Other
Partners in Economic Development
Other partners in the development process include the State
of Illinois through the Department of Commerce and Community
Affairs, Madison County, the Southwestern Illinois Development
Authority, the Growth Association of Southwestern Illinois
and the Great Alton/Twin Rivers Convention and Visitors Bureau.
Utilities are provided by Ameren Corporation (electric and
gas), SBC Ameritech (telephone and telecommunication), Charter
Communication (cable and telecommunication), Illinois-American
Water Company (water) and City of Alton Public Works (sanitary
sewer).
Housing
and Public Services
The following is a brief description of some of the Community
Development Block Grant programs that are offered. For questions
regarding the Block Grant Programs contact Greg Caffey at
618/463-3801.
- Homeownership
Program
- The Homeownership program was developed to promote homeownership
in the City of Alton and create stability in neighborhoods.
This program assists home buyers in the form of a forgivable
loan to assist with down payment and eligible closing costs
for homes purchased in the City of Alton.
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