Bellevue Plaza TIF District

Moran Economic Development (MED) provides consulting services for the City of Belleville, including the recent establishment of the Bellevue Plaza Tax Increment Financing District Redevelopment Project Area.  The Bellevue Park Plaza shopping center located within the boundary had initially opened in 1956 as Belleville’s first strip mall.  At the time of the TIF District’s establishment, the shopping center had numerous vacancies, and the site and surface improvements for the property and throughout the redevelopment project area exhibited signs of deterioration. These conditions were primarily due to general age and a lack of maintenance, and the city was looking for resources to encourage more active development and redevelopment within the boundary area.

The primary goals of the redevelopment project included facilitating the redevelopment of the property within the area, filling existing vacancies, repairing some of the existing structures, and other related activities to generally promote economic development within the area. The Bellevue Plaza TIF District is the city’s 17th active tax increment financing redevelopment project area.  Other TIF Districts in the city include the expansive TIF District 3, which was recently granted a second extension for a total term of 47 years. The city’s tax increment financing program has proven successful in meeting the diverse development needs of the business community and has served to place the city in a more competitive position in working with the private sector.  The use of these resources, particularly in the historic downtown portions of the city, has facilitated the development and redevelopment of numerous properties that would have otherwise fallen into dilapidation and disrepair. 

As part of its economic development approach, Belleville works in close cooperation with agencies and organizations such as the Greater Belleville Chamber of Commerce, St. Clair County Economic Development Department, Southwestern Illinois Development Authority, utility companies, and various state agencies to pool resources and expertise in putting together proposals and incentives to assist businesses.