Galesburg council approves Orpheum TIF money

Galesburg aldermen approved last night TIF assistance for the Orpheum Theatre to renovate the interior of the building.
According to council documents the total project will cost the theatre about $275,000.

They are financing renovations through a loan from F&M Bank and the gaps will be filled with TIF money, not to exceed $82,600.

The money will be distributed over five year period ending in 2020.

In addition to TIF, the theatre’s executive director Kevin Maynard announced on Saturday that $800,000 has been pledged to the Orpheum for their capital campaign.

He says that campaign has a list of projects such as restoring the building facade, laying new carpet and putting in a new sound system, which is in the process of being done.

Additionally aldermen officially approved an application for a $4 million forgivable loan from the EPA to replace around 2,000 lead service lines in Galesburg.
City Manager Todd Thompson says often what are called forgivable loans are usually only partially forgivable.

“We’ve got the unique opportunity here to have the entire amount forgiven due to the circumstances that exist,” Thompson says.

Galesburg had already submitted a pre-application and project plan to the IEPA, completed by Bruner, Cooper and Zuck architectural firm.

Also Mayor Pritchard honored recently retired City Assessor Darrell Lovell thanking him for his 31 years of service.
There will be a reception for Lovell from 2 to 4 p.m. today at City Hall.

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