NORMAL, Ill. (WMBD) – At Monday’s Town Council Meeting, councilmembers unanimously approved an ordinance authorizing boundary modifications to the Bloomington Normal Enterprise Zone.
According to town officials, the enterprise zone program is designed to stimulate economic growth and community revitalization. This is possible through state and local tax incentives to support business growth and create jobs.
The town of Normal is adding 342.28 acres to the zone for future development. Town manager Pamela Reece said the enterprise zone does not dictate how a property develops.
“We wouldn’t have a position on whether or not these 342 acres would be multifamily or single-family. This is simply a development incentive tool that is used for commercial, industrial, historically and now potentially residential development,” said Reece. “How a property develops in terms of its zoning and use is a whole separate conversation.”
The enterprise zone was created by the Illinois Legislature in 1982, allowing communities to tailor the program to their development needs. In order to attract diamond stars motors to the community, the Bloomington Normal, McLean County Enterprise Zone was created in 1984.
To learn more about the ordinance, click here.
WMBD TV can be reached at News@WJBC.com.
