RIVERFRONT HOTEL/CONFERENCE CENTER FEASIBILITY STUDY
To view the hotel/conference center feasibility study, please click here. Please be advised that this document is large and may take a moment to download.
BUSINESS SERVICES AND INCENTIVES
Tax Increment Financing (TIF) Districts – In 1994, the City of Alton created the Riverfront Tax Increment Financing District (TIF 1). In January 2010, the City of Alton created the Hunterstown Tax Increment Financing District (TIF 2). TIF funds can be used for such items as infrastructure improvements, land acquisition, site clearance and preparation, revolving loans and interest subsidies, building rehabilitation, and professional services. Potential projects are considered by the Department on a case-by-case basis, with ultimate approval being required by the Mayor and City Council. For an explanation of how a TIF works, please click here. To view a copy of the TIF Grant Application, please click here. To view a copy of the Residential TIF Grant Application, please click here. To view a map of the Riverfront TIF District, please click here. To view a map of the Hunterstown TIF District, please click here. Please be advised that these are large documents and may take a moment to download.
Enterprise Zone – The River Bend Enterprise Zone was created to assist businesses located within a targeted area, which includes the Industrial Corridor and the Alton Central Business District. Businesses are given incentives such as investment tax credits, jobs tax credits, utility tax exemption, sales tax exemption on qualified building materials, and potential property tax abatement. The River Bend Enterprise Zone is a multi-jurisdiction zone which is administered for the City of Alton by Madison County Community Development (MCCD). MCCD can be reached at 618.692.6200 ext. 4386. For more information on the Enterprise Zone, please click here. For a map of the Enterprise Zone, please click here.
Commercial Facade Program – The Commercial Facade Program is available for commercially zoned businesses generally located south of Homer Adams Parkway. The program provides a 25% reimbursement grant to improve the exterior facades of a building. The maximum reimbursement of $7,500 for a single facade, $10,000 for multiple facades.
Loan Programs – Madison County Community Development offers assistance in the form of two loan programs. The Job Creation Loan Program provides direct financing to businesses at a below-market interest rate, in cooperation with private-sector lenders, to provide “gap” financing to expanding or new firms whose projects create permanent jobs for existing qualified low or moderate-income individuals within the County. The Infrastructure Loan Program provides low-interest loans to local governments for infrastructure projects that lead directly to private sector investment activities that create or retain permanent jobs for County residents.
The following are the City of Alton’s Census Quick Fact Sheet and the City of Alton’s Community Profile. Some data is provided courtesy of the River Bend Growth Association. For updated demographics or demographics in a specific portion of the City, please contact the Department.
City of Alton Census Quick Fact Sheet
City of Alton Community Profile
LocationOne Information System (LOIS) is a searchable, online database of available buildings and sites. Please click the following link to see available commercial and industrial properties in Alton. This service is provided courtesy of the Ameren Economic Development Department. To view available properties listed on LOIS, please click here or click the Sites & Buildings link on the left side of this page.