MARENGO – A Marengo retail store will soon relocate farther south along Grant Highway, after aldermen this week advanced a proposed special taxing area that could bankroll minor road improvements near the store’s new location.
The special service taxing area would cover Dollar General’s new store, near Grant Highway and Shady Lane, and a one-acre vacant lot east of the new building.
It is intended to finance about $160,000 in future road improvements to accommodate heavier traffic flow, if the vacant lot is ever commercially developed, said City Administrator Gary Boden.
The improvements primarily entail an eastbound left-hand turn lane along Grant Highway that feeds into the new Dollar General.
The city will collect a certain amount of property taxes from the owners of Dollar General and the undeveloped east lot over 10 years to pay for the improvements, under the special service area.
If development never happens at the east lot, the city is required to return its collected dollars back to Dollar General at the end of 15 years. The service area would then be terminated.
Both owners have agreed to the proposed special service area, Boden said. But aldermen won’t take a final vote until November, since the city has to go through a lengthy public-hearing process to create the taxing area.