Check out The Urbanophile. A great Web Page / Blog, focused on helping America’s cities find ways to thrive and find sustainable success in the 21st century. The Urbanophile focuses on midwestern cities.
The Urbanophile
Check out The Urbanophile. A great Web Page / Blog, focused on helping America’s cities find ways to thrive and find sustainable success in the 21st century. The Urbanophile focuses on midwestern cities.
Ruyle Hullinger and Associates
Peoria one of the Five Best Places to Start a Business
CNN and Money Magazine find that Peoria is one of the five best communities for its size to launch a business.
http://money.cnn.com/smallbusiness/best_places_launch/2009/snapshot/254.html
Congratulations and thanks to everyone who has helped our City and region be a great place to start and grow a business.
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New VA Medical Facilities - Kewanee EDC
The Kewanee Economic Development Corporation has come up with an excellent plan to bring health care and jobs to our region. Under their proposal outlined below and on the attachments they point out that the Veterans of our region are underserved for Health Care. They are correct. They propose that a new Veterans hospital be developed to resolve this problem.
For More Information, Click Below:
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![[warehouse_district_map+2.jpg]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW7LsfzEXbY1RRx88qk550Bkr9ComhVEMz2v5X43J4oA2LnCIoM3PEszhCWZmykpiL6chLCHKQomcGAY9MPwPlpcidiFO_rVC1RMLXYYqK_BOCgUVNNzc57RVz4kNek0YCsze8AoUcrvA/s1600/warehouse_district_map+2.jpg)
Is America Ready to adopt Solar Energy?...
The survey found that 92 percent of Americans think it is important for the U.S. to develop and use solar energy.
http://www.mygreeneducation.com/is-america-ready-to-adopt-solar-energy-new-poll-shows-more-than-nine-out-of-10-americans-want-solar-now/
Call Center Facility 35,000 to 50,000 Sq Ft
Attached is a Call Center RFI with the code name of Project Classical. Communities may respond directly to the Colliers Analyst, David Kranjcevic, with facility and community details, but please copy me, david.pierson@illinois.gov as well. There is no questionnaire to complete. The submission deadline is Tuesday, October 20, 2009.
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Note the project contact, David Kranjcevic, and Colliers International, also represented the Project Jazz call center project in June. The requirements are similar, but somewhat different. In this case search parameters indicate this client is more open to retrofitting office or retail space. And, again there is a population requirement. This time the RFI states communities/counties/metro areas with a population greater than 100,000 people. Previously the given level population within a 30 mile commute distance of the proposed sites was acceptable as well. Lastly, call center saturation rate was defined as the total number of call center employees in a given community (county or metro) / total labor force for the community.
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Thank you,
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Dave
Dave Pierson
Economic Development Representative
IL Dept. of Commerce and Economic Opportunity
100 W. Randolph St., Suite 3-400
Chicago, IL 60601
Phone: 312-814-1346
Fax: 312-814-5247
E-mail: david.pierson@illinois.gov
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Proposed Historic Preservation Tax Credit Act
Federal Historic Tax Credits are a major incentive that helps older cities renew declining neighborhoods. The tax credit makes the preservation and renewal of older buildings much more likely, and is an important factor in revializing older neighborhoods.
A number of States have similar programs. The following draft act is based on the successful acts used in the State of Kansas and Missouri. If Illinois passed a similar act, we anticipate a substantial increase in redevelopment of older neighborhoods.
The passage of an act like this would greatly help the redevelopment of older neighborhoods such as Renaissance Park and the Warehouse District.
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Proposed 35 ILCS 12/
Illinois Historic Preservation Tax Credit Act
Illinois Historic Preservation Tax Credit Act
Credit Against Tax For Certain Historic Structure Rehabilitation Expenditures.
Sec. 1. Short Title. This Act may be cited as the Illinois Historic Preservation Tax Credit Act.
Sec. 2. Definitions, As used in this section, unless the context clearly indicates otherwise:
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(a) "Qualified expenditures" means all the costs and expenses of exterior and interior rehabilitation and construction, including all costs relating to adaptive reuse and parking structures therefor, incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure pursuant to a qualified rehabilitation plan;
(a) "Qualified expenditures" means all the costs and expenses of exterior and interior rehabilitation and construction, including all costs relating to adaptive reuse and parking structures therefor, incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure pursuant to a qualified rehabilitation plan;
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(b) "qualified historic structure" means any building, regardless of whether said building is income producing, is a condominium building or is of any other ownership structure, which is defined as a certified historic structure by section 47 (c)(3) of the federal internal revenue code, is individually listed on the register of Illinois historic places, or is located and contributes to a district listed on the register of Illinois historic places, or is located and contributes to a district listed on the register of Illinois Main Street places, or is located and contributes to a district listed on a local register of historic places within a home rule county or home rule municipality;
(b) "qualified historic structure" means any building, regardless of whether said building is income producing, is a condominium building or is of any other ownership structure, which is defined as a certified historic structure by section 47 (c)(3) of the federal internal revenue code, is individually listed on the register of Illinois historic places, or is located and contributes to a district listed on the register of Illinois historic places, or is located and contributes to a district listed on the register of Illinois Main Street places, or is located and contributes to a district listed on a local register of historic places within a home rule county or home rule municipality;
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(c) "qualified rehabilitation plan" means a project which is approved by the Illinois Historic Preservation Agency, or by a local historic preservation commission certified by the Illinois Historic Preservation Agency to so approve according to rules and regulations adopted by the agency, or by a local historic preservation commission of a home rule county or home rule municipality, as being consistent with the standards for rehabilitation and guidelines for rehabilitation of historic buildings as adopted by the federal secretary of interior and in effect on the effective date of this act; and
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(c) "qualified rehabilitation plan" means a project which is approved by the Illinois Historic Preservation Agency, or by a local historic preservation commission certified by the Illinois Historic Preservation Agency to so approve according to rules and regulations adopted by the agency, or by a local historic preservation commission of a home rule county or home rule municipality, as being consistent with the standards for rehabilitation and guidelines for rehabilitation of historic buildings as adopted by the federal secretary of interior and in effect on the effective date of this act; and
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(d) "qualified taxpayer" means the owner of the qualified historic structure or any other person who may qualify for the federal rehabilitation credit allowed by section 47 of the federal internal revenue code. If the taxpayer is a corporation having an election in effect under subchapter S of the federal internal revenue code, a partnership or a limited liability company, the credit provided by this subsection shall be claimed by the shareholders of such corporation, the partners of such partnership or the members of such limited liability company in the same manner as such shareholders, partners or members account for their proportionate shares of the income or loss of the corporation, partnership or limited liability company, or as the corporation, partnership or limited liability company mutually agree as provided in the bylaws or other executed agreement. Credits granted to a partnership, a limited liability company taxed as a partnership or other multiple owners of property shall be passed through to the partners, members or owners respectively pro rata or pursuant to an executed agreement among the partners, members or owners documenting any alternate distribution method.
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Sec. 3. Allowable Credit. For all taxable years commencing after December 31, 2007, there shall be allowed a tax credit against the income or any other tax liability imposed upon a taxpayer pursuant to the 35 ILCS, except any tax liability imposed by 35 ILCS 130/ through 35 ILCS 143/ and 35 ILCS 200/, in an amount equal to 25% of qualified expenditures incurred in the restoration and preservation of a qualified historic structure pursuant to a qualified rehabilitation plan by a qualified taxpayer if the total amount of such expenditures equal $5,000 or more. If the amount of such tax credit exceeds the qualified taxpayer's income or other qualifying tax liability for the year in which the qualified rehabilitation plan was placed in service, such excess amount may be carried over for deduction from such taxpayer's income or other qualifying tax liability in the next succeeding year or years until the total amount of the credit has been deducted from tax liability, except that no such credit shall be carried over for deduction after the 10th taxable year succeeding the taxable year in which the qualified rehabilitation plan was placed in service.
Sec. 4. Transfer of Credits. Any person, hereinafter designated the assignor, may sell, assign, convey or otherwise transfer tax credits allowed and earned pursuant to section 3. The taxpayer acquiring credits, hereinafter designated the assignee, may use the amount of the acquired credits to offset up to 100% of its income or other qualifying tax liability for either the taxable year in which the qualified rehabilitation plan was first placed into service or the taxable year in which such acquisition was made. Unused credit amounts claimed by the assignee may be carried forward for up to 10 years or backward for up to 3 years, except that all such amounts shall be claimed within 10 years following the tax year in which the qualified rehabilitation plan was first placed into service. The assignor shall enter into a written agreement with the assignee establishing the terms and conditions of the agreement and shall perfect such transfer by notifying the Illinois Historic Preservation Agency in writing within 90 calendar days following the effective date of the transfer and shall provide any information as may be required by such agency to administer and carry out the provisions of this section. The amount received by the assignor of such tax credit shall be taxable as capital gains income of the assignor, and the excess of the value of such credit over the amount paid by the assignee for such credit shall be taxable as capital gains income of the assignee.
Sec. 5. Annual County Limit. The cumulative amount allowable for such credits shall be limited to a maximum of $25 million per year per county. Notwithstanding the 10-year deduction period for such credits, in the event a credit is disallowed because it exceeds the annual $425 million cumulative limit per county, said credit shall be allowed the next year if within said limit or the claim period for such credit shall be extended by one additional year for each year disallowed as a result of this section. Except in cases of bad faith or fraud, no penalty or interest shall be due as a result of any credit disallowed by this section.
Sec. 6. Biennial Report. The Department of Commerce and Economic Opportunity shall determine, on a biennial basis beginning at the end of the second fiscal year after the date this Act takes effect, the overall economic impact to the state from the rehabilitation of eligible property.
Sec. 3. Allowable Credit. For all taxable years commencing after December 31, 2007, there shall be allowed a tax credit against the income or any other tax liability imposed upon a taxpayer pursuant to the 35 ILCS, except any tax liability imposed by 35 ILCS 130/ through 35 ILCS 143/ and 35 ILCS 200/, in an amount equal to 25% of qualified expenditures incurred in the restoration and preservation of a qualified historic structure pursuant to a qualified rehabilitation plan by a qualified taxpayer if the total amount of such expenditures equal $5,000 or more. If the amount of such tax credit exceeds the qualified taxpayer's income or other qualifying tax liability for the year in which the qualified rehabilitation plan was placed in service, such excess amount may be carried over for deduction from such taxpayer's income or other qualifying tax liability in the next succeeding year or years until the total amount of the credit has been deducted from tax liability, except that no such credit shall be carried over for deduction after the 10th taxable year succeeding the taxable year in which the qualified rehabilitation plan was placed in service.
Sec. 4. Transfer of Credits. Any person, hereinafter designated the assignor, may sell, assign, convey or otherwise transfer tax credits allowed and earned pursuant to section 3. The taxpayer acquiring credits, hereinafter designated the assignee, may use the amount of the acquired credits to offset up to 100% of its income or other qualifying tax liability for either the taxable year in which the qualified rehabilitation plan was first placed into service or the taxable year in which such acquisition was made. Unused credit amounts claimed by the assignee may be carried forward for up to 10 years or backward for up to 3 years, except that all such amounts shall be claimed within 10 years following the tax year in which the qualified rehabilitation plan was first placed into service. The assignor shall enter into a written agreement with the assignee establishing the terms and conditions of the agreement and shall perfect such transfer by notifying the Illinois Historic Preservation Agency in writing within 90 calendar days following the effective date of the transfer and shall provide any information as may be required by such agency to administer and carry out the provisions of this section. The amount received by the assignor of such tax credit shall be taxable as capital gains income of the assignor, and the excess of the value of such credit over the amount paid by the assignee for such credit shall be taxable as capital gains income of the assignee.
Sec. 5. Annual County Limit. The cumulative amount allowable for such credits shall be limited to a maximum of $25 million per year per county. Notwithstanding the 10-year deduction period for such credits, in the event a credit is disallowed because it exceeds the annual $425 million cumulative limit per county, said credit shall be allowed the next year if within said limit or the claim period for such credit shall be extended by one additional year for each year disallowed as a result of this section. Except in cases of bad faith or fraud, no penalty or interest shall be due as a result of any credit disallowed by this section.
Sec. 6. Biennial Report. The Department of Commerce and Economic Opportunity shall determine, on a biennial basis beginning at the end of the second fiscal year after the date this Act takes effect, the overall economic impact to the state from the rehabilitation of eligible property.
More info:
Warehouse District
We are updating our Warehouse District Brochure. The map is not yet updated. Your thoughts for improvements are appreciated.
![[warehouse+district+brochure+pg+1.jpg]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrsWDZRYD-M46XkWJgQMMnXXS9HgdZZuGHR7tLvckbVH0pvEo6dx_sCbzbF7tbGb5sY1JXVZglOL-xiUlLdkCXCjHdWqL3QQ2_Y6HlOm8O0_ln5VwXSicET4-8eq6GUjL95fHPwT8VLms/s1600/warehouse+district+brochure+pg+1.jpg)
![[warehouse+district+brochure+pg+2.jpg]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTK-1kZHxPF82SGbU6S7h0jrizAhk7iSeTyWSDIFFl3ZFBQQKOIze0ARFbSrAbMEYVcnOzoeFPY91e_lXUjNGI9YRmPAJQdVmCLUn9hLrUl8CG6kRdNm1opS7I4NVRzB3TWhNKDbP9E5c/s1600/warehouse+district+brochure+pg+2.jpg)
![[Big_BUild_07-14-08.jpg]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEho4oJJO2eSne9BAr-sW12WIMIX1pvsai8E2Z__DrKO5t1n2VaIOXAwnTJvCTT6kAMUofBEakdehczsv90uRZIxnfKfcyjx7ThmsS_tvcKCWQA4l6zZ-TMpXwvfrDMBDsWHs91bA-W495w/s1600/Big_BUild_07-14-08.jpg)
![[Warehouse.jpg]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSGm0b9KdtwzJ_ds5fDXisnCorW1QFD6oUMK95qwS-7R19k43iYCbpW6r14WADC8MPPVGmAxVTQEcMpeWlS20u7eDrhTy8A-vgVCy00WhG1Albor9Lc3p6z-jS6EA78pOMkk2geXJSEzY/s1600/Warehouse.jpg)
For nore info click below:
U of I Architecture
Looking for a 45,000 SF Warehouse
We have a company looking for:
A building with:
150 X 300 (45,000 sf) building
20’ ceiling height
Open layout with no columns
Warehouse or manufacturing type building
Or, A site of 15 acres
Either a building or a site needs to be in close proximity to an interstate.
Please let us know if you know of any buildings or sites that meet the above requirements.
Beth Kolowski
The Economic Development Council for Central Illinois
A company of The Heartland Partnership
100 SW Water Street
Peoria, IL 61602-1329
309-495-5973 - Office
309-256-9011 - Cell
150 X 300 (45,000 sf) building
20’ ceiling height
Open layout with no columns
Warehouse or manufacturing type building
Or, A site of 15 acres
Either a building or a site needs to be in close proximity to an interstate.
Please let us know if you know of any buildings or sites that meet the above requirements.
Beth Kolowski
The Economic Development Council for Central Illinois
A company of The Heartland Partnership
100 SW Water Street
Peoria, IL 61602-1329
309-495-5973 - Office
309-256-9011 - Cell
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The EDC for Central Illinois is now on FACEBOOK!
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Join Facebook and become an EDC fan today.
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