As a show of community support, Hoopeston is being
asked to contribute $300,000 of tax increment financing
(TIF) funds towards the second phase of Prairie Meadows.
Niccole Clements, director of community and economic
development for Illinois Association of Community
Action Agencies in Springfield, talked about Prairie
Meadows II at Tuesday’s Hoopeston City Council meeting.
IACCAA hopes to pull partners together to build 30
more houses on land near the existing Prairie Meadows.
The estimated cost of the entire project is $7.6 million.
Of the total, “a ton of money” is paid for soft costs, suchas market and environmental studies, engineering fees
and other expenses.
The project would increase the property tax collected on the land.