“Although there likely will be many hurdles to cross, the first one has been cleared for the proposed Kankakee riverfront development.” – Excerpt, The Daily Journal | July 2nd, 2019
The City of Kankakee is one-step closer to riverfront redevelopment after a series of votes at Monday night’s City Council meeting that ultimately approved the creation of the Riverfront Tax Increment Financing (TIF) district.
In 2018, the City of Kankakee adopted the Kankakee Riverfront Master Plan with an overall goal of revitalizing the City’s riverfront. The Plan calls for the creation of various riverfront attractions, including parks, trails, and other recreational uses, while also encouraging improved access and connection to the riverfront and those related destinations.
“The idea behind this plan is to make the nearly five-mile stretch of Kankakee River running through Kankakee from the South Schuyler Avenue Bridge at East River Street to Riverside Medical Center a regional attraction, as well as an economic engine.” – Excerpt, The Daily Journal | July 2nd, 2019
As part of the implementation process for the Riverfront Master Plan, the City retained Teska to create the Riverfront Tax Increment Financing District. The TIF District is a means by which the City can incentivize revitalization of the Riverfront Area, meeting the goals of the Master Plan. In addition to establishing the Riverfront TIF, the City has also secured grant funding for initial elements of the Riverfront Redevelopment Plan, including an Illinois Transportation Enhancement Program (ITEP) grant to help expand multi-modal access through bike paths and walking trails and an Open Space Lands Acquisition & Development (OSLAD) grant to aid in the development of parks and open spaces.
During the summer of 2018, the City kicked-off downtown revitalization efforts through the Schuyler Avenue Streetscape Plan, led by Teska. The Streetscape Plan called for upgrades to a three-block segment of Schuyler Avenue, including newly striped bike lanes, upgraded light poles and additional string lighting, additional outdoor seating, new plantings, etc. These improvements are intended to revitalize Downtown Kankakee by increasing the vibrancy of the area, improving the look and feel of the place, and generating renewed interest and vision in the downtown. Ultimately, the goal of these improvements is to spur development and investment by improving walkability and livability.
The $2 million redesign, which is expected to be completed this summer, was funded with revenues from an expiring Downtown TIF just north of the new Riverfront TIF. The success of this revitalization project will mean further redevelopment, investment, and property value in the area.
