The council decided to make the changes to the TIF redevelopment plan in March, and will be setting up the public hearing on the proposed changes and wording during its meeting on Monday night.
"The redevelopment plan did not anticipate housing development being a possibility in the IPC TIF district," said City Manager Ron Neibert. "The high school making the area near it as its new site has changed the area a little bit. What was once attractive for heavy industrial development is now attractive for lighter development that includes some housing."
The Mt. Vernon Township High School Board finalized a deal on 82 acres located at the corner of Wells Bypass and Ambassador Lane in August 2012. The high school paid $1.2 million for the property, which is just outside of the city's Industrial Park Conservation District TIF.
RJ3A, which has a TIF inducement resolution approved by the council in September 2012, has expressed interest in putting housing within the TIF district, north the new high school site, and within the TIF district. Plans from the developer call for an apartment complex, possibly a hotel and a retail development on Wells Bypass.
The public hearing on the amendment to the TIF redevelopment plan has been proposed at 6:15 p.m. July 15.
In other business, the council will:
Hold a first reading on an amendment to ordinance regarding the number of Mt. Vernon Police captains, proposing four;
Discuss a resolution to appoint the new director of human resources as the authorized agent for the Illinois Municipal Retirement Fund;
Discuss a resolution consenting to a request from James J. Rozycki Jr. for a mortgage to Texico Bank of his Miller Lake lease;
Discuss a resolution allowing the assignment of a Miller Lake lease from Waqqas H. Khan to Christopher and Pamela Michel and consent to a mortgage to Community First Bank of the Heartland;