Tuesday, September 28, 2010

STAR Bonds District Boundaries On Display

The proposed new STAR Bonds District map went on display today at City Hall in Marion (but not online as one might expect in the 21st Century).

View Marion STAR Bonds District in a larger map

The boundary is less than the 500 acres maximum and is closer to 400 acres I think. It includes the 43.52 acre-tract behind Menards, but I can't remember if it included the 3 acre outlot immediately to the east (Lot C). Marion Heights LLC is planning on keeping at least two of the outlots to sell themselves on either side of Stadium Drive between Blue Herons Drive and Morgan Avenue.

On the east side of the interstate the district includes almost all the land north of Morgan up to Longstreet, then east to about a quarter mile east of Russell Street, except it does not include the residential area north of Morgan in the trailer park, up Peabody Lane, Emery and Cash Streets.

On Russell Street the district does not begin until north of the Northernaire subdivision and the homes along Cox Street.

The map and legal description will remain on display at City Hall for at least a week before the council officially approves it, which I'm assuming will take place next Monday.

Meanwhile, the Illinois Department of Revenue has posted its proposed rules for regulating the STAR Bonds District. As expected based on their public statements, the rules are even more restrictive than the legislation itself, though for the most part they seem reasonable.

Read them yourself and offer comments at the Department of Revenue STAR Bonds website.

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