Comprehensive Plan - Carbondale, IL

Adopted June 22, 2010EXISTING INCENTIVES AND PROGRAMS(http://www.explorecarbondale.com)There are a number of organizations and players that areinvolved in the overall economic development effort. Eachhas a number of economic development programs, manyof which serve smaller niche functions within the overalleconomic development context. A few existing incentivesand programs include:• Enterprise Zone – the city of Carbondale is part of alarger zone that also includes a section of Murphysboro.Various tax incentives including property and salestax abatements/credits, and fee waivers apply for newbusinesses in the zone.• Façade Loan Program – FLP provides low interestloans for up to 100% of façade improvement costs fordowntown properties.• Revolving Loan Program (RLF) – RLF is a loan interestloan fund capitalized originally with state CommunityDevelopment Assistance Program (CDAP) funds. It isused to provide gap financing for new or expandingbusinesses with eligibility tied to the amount of capitalinvestment and job creation.• Main Street Program – The City operates a downtownMain Street program under the aegis of the NationalTrust for Historic Preservation. The program offersdesign and grant assistance and special event planningamong other activities.• Tax Increment Financing (TIF) – Carbondale’s TIFdistrict is a 31-acre redevelopment area bordered byMain Street, Logan Avenue, Elm Street, and the railroad tracks. The TIF district was created in2004 and has 17 years of remaining spending life. The TIF generated approximately $131,000 ofincrement in FY 2008 with an estimated equalized assessed value (EAV) of $2,770,000.• Carbondale Business Development Corporation – This is a 501C-3 community developmentcorporation originally formed to market the City’s Bicentennial Industrial Park. Theorganization was originally funded with privatedonations. Its assets currently consist of 125 remainingundeveloped acres at the industrial park.• SIU Small Business Development Center andIncubator Program – SIU offers a full range of businessstart-up assistance programs at the Dunn-RichmondEconomic Development Center in the Southern IllinoisResearch Park.Comprehensive Plan5.17Economic Development