SE Illinois News

The Fairfield city council recently approved Ta Increment Financing (TIF) funding to support a development plan for the local Blessed Blooms Flower Farm.

During the April 25 Fairfield city council meeting, officials considered approving a payment from TIF funds to the local Blessed Blooms Flower Farm. Municipalities can use TIF funds to help boost economic development and improvement in specific areas. For Fairfield’s TIF program, the city collects all new real estate tax dollars from new developments for a period of 23 years, after which collection ceases. The collected tax revenues can then be authorized for expenditures in the local community for things including “parking lots, utilities, streets, sidewalks, building demolition and/or rehabilitation, site preparation, job training, interest write-downs, or land assemblage.”

The Blessed Blooms Flower Farm (BBFF) approached the village for TIF funding to support a new flower market and pavilion. The pavilion will host outdoor markets and events. BBFF described the scope of work to “restore the current 45 by 100 concrete pad with a 45 by 64 foot pavilion covered with parking and electricity for vendor service, renovate current 36 by 64 full frame building to be fully insulated and serviceable for indoor work room and sales floor.” BBFF will also renovate the exterior of the structure and redo the existing driveway before adding business signage.

BBFF purchased the new building for a total of $125,000, and plans invest another $90,000 in renovations. Based on the scale of work, number of employees, and size of business, the village is willing to offer the company $30,000 in TIF funding.

"We didn't do the full amount that they were asking for, the $45,000. We went with the $30,000 based on what we saw TIF could do for the project," Fairfield council member Tyler Lampley said at the meeting. "Then they're looking to do the low-interest loan through our revolving loan for $15,000, but that'll come at a later meeting."

The village approved the payment to BBFF from TIF funds and will approve another low-interest loan agreement with the business at a later date if the company decides to move forward.

"It's good to see business being revamped a little bit," Fairfield Mayor Mike Dreith said at the meeting. "I mean, the building that was sitting there was not far from taking a downturn for the worse. So it's great to see them redevelop that and hopefully be a thriving new business in town."