Macomb Working with State Elected Officials on STAR Bond Policy Revision
Interviews are underway for a master developer for the City of Macomb's economic development project, anchored by a Sports Facilities/ Event Complex, and city officials are working out a slight setback with the recent Illinois Department of Economic Opportunity (DCEO) census map change.
According to Mayor Mike Inman, interviews are currently ongoing to select a master developer for the project. As part of the state's Sales Tax and Revenue (STAR) Bond criteria, the city must have a master developer in place in order to apply next year for the STAR Bond grant.
'We had a really positive response to our Request for Qualifications. We've had some interviews, but due to non-disclosure agreements, I can't really divulge the details. What I can say is we anticipate an agreement with a qualified master developer before the end of the year,' Inman noted. 'We're pleased with the enthusiasm the candidates have brought to the table. They're even more excited about this project than we are.'
The City of Macomb's filed its intent to establish a STAR Bond district and pursue the incentives through the state's revamped STAR Bond program, which, if received, will make it possible for the city to move forward with the proposed sports complex. Communities planning to pursue the competitive state grant had to file their intent by June 1. The intent to pursue does not obligate the city, Inman explained.
