Have you heard about the River's Edge Development Zone? The River Edge Redevelopment Zone Program (RERZ) helps revive and redevelop environmentally challenged properties adjacent to rivers in Illinois.
Cities in the River Edge Redevelopment Zone are eligible for the Illinois Historic Preservation Tax Credit Program, which provides a state income-tax credit equal to 25% of a project’s qualified expenditures to owners of certified historic structures.
From State Senator Patrick Joyce
“By adding Kankakee to the list of towns eligible to be in the River Edge Redevelopment Zone, investors and small business owners alike will have tax incentives to invest in the downtown area. This action aims to bring back businesses and give old river communities another chance for development.”
“We all want the same thing for downtown Kankakee: a thriving downtown with vision for the future,” said Joyce. “This action will help the city with its short- and long-term development goals.”
Information Session
The City of Kankakee, Kankakee County Chamber of Commerce, Kankakee Development Corporation, Economic Alliance of Kankakee County, and The Currents of Kankakee are providing an information session about the Kankakee River Edge Redevelopment Zone.
During this info session, experts from the Illinois Department of Commerce and Economic Opportunity (DCEO) and Senator Patrick Joyce will discuss the plans, opportunities, and benefits of the Kankakee River's Edge Redevelopment Zone. Whether you're a business owner, investor, banker, or developer, this event is a must-attend.
Discover how this redevelopment zone will create a vibrant and thriving environment for everyone. We'll provide insights into the timeline, potential partnerships, and the positive impact it will have on our local economy. Doors open at 9:30a with official program beginning at 10am!
