City looking at using TIF funds to pay for the Newcomb Hotel cle - WGEM.com: Quincy News, Weather, Sports, and Radio

City looking at using TIF funds to pay for the Newcomb Hotel clean-up

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QUINCY, Ill. (WGEM) -

Quincy (WGEM) -- The city of Quincy may have found a way to finance the clean up at the Newcomb Hotel, but it's far from ideal.

The mayor says they will likely have to dip into TIF funds to pay for the half million dollar project - money that was slated to go for other development possibilities downtown. 

Monday was a busy day in downtown, and there's rarely a quiet moment at Second String Music. It's one of the many things Rodney Hart loves about his business. He says another positive feature is his location in the heart of downtown Quincy.

"And if you're coming downtown, you cannot miss us. We're an anchor business, and I like to think of us as the anchor business in downtown Quincy," he said proudly. 

He says the rubble left behind by the Newcomb Hotel fire is a sad sight, but he's ready for the downtown area to get past the tragedy.

"And we all had our hearts in our throats when we heard the news on that Friday night about this thing going up, but you know - it's done. It happened. It's finished. Now we need to move on, now we need to clean it up, now we need to get some ideas about what we want to do with that space," he said.

Quincy Mayor Kyle Moore is ready for the cleanup process to get going too. But the new plan - to fund it with TIF money - is less than ideal.

"I'm telling you, there's not an easy answer on this - I wish there was. I wish we had five hundred thousand sitting around where we could make everybody happy, but that's really what we're going to be judging over the next couple of weeks," he said.

Moore says TIF money is set aside to offer new developers an incentive to come to downtown Quincy.

"That way there's not an extra burden on somebody to move to our downtown because it costs more to have historical lighting and all that, then it would be to move to a different part of our town," he said.

But Moore says unfortunately there will be less TIF money to go around because of the Newcomb. Hart says he is fine with the city using TIF funds, if it means bettering the city as a whole. 

"Yes, I'm in downtown Quincy, but I'm also on Quincy property, and if there's a fire on east Broadway it hits just as hard as well." 

 


 

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