News From Senator Stadelman

Governor to sign River Edge extension Friday

State Senator Steve Stadelman will travel to Aurora to attend a bill signing to continue the popular River Edge Historic Preservation Tax Credit until 2022.

Sponsored by Stadelman, the legislation protects an important economic revitalization tool for downtown Rockford. Gov. Bruce Rauner's signature Friday will extend the program for four years beyond its current expiration Jan. 1, 2018.

The bill signing is scheduled for 12:30 PM FRI AUG 18 at Aurora University - Crimi Auditorium, 1347 Prairie St., Aurora. 

Aurora is one of four cities besides Rockford to benefit from the credit, equal to 25 percent of the costs for a business to rehabilitate an historic building. Peoria, Elgin and East St. Louis are also included in the River Edge legislation.

In Rockford, the tax credit has helped make possible numerous urban redevelopment projects including the $12 million transformation of the Prairie Street Brewhouse.

"The River Edge tax credit turns vacant buildings into marketable properties, creates jobs and grows the economy," Stadelman said. " Developers will be happy to know this incentive will be available through 2021." 

Senator Stadelman is available upon his return to Rockford for interviews with local news organizations unable to cover the bill signing.

Mark Bonne

Chief of Staff, State Senator Steve Stadelman

815-987-7557

Zeke Giorgi Center, 200 S. Wyman St., Suite 301, Rockford, IL 61101