Title: 2025 TAX INCREMENT FINANCE (TIF) DOWNTOWN RENTAL REHABILITATION PROGRAM

Deadline: 2/6/2025 4:00 PM   (UTC-06:00) Central Time (US & Canada)

Status: In Review

Description: LEGAL NOTICE
City of Quincy, Illinois

Request for Proposals
Downtown Rental Rehabilitation Program

The City of Quincy is offering Tax Increment Finance (TIF) funding to assist redevelopment proposals for upper-story residential renovation projects that develop market rate rental housing units. Building owners within the downtown TIF Districts with vacant, undeveloped, and outdated upper-story space may submit proposals for TIF funding assistance. City TIF funding will provide zero interest loans for fifty percent of the project cost up to a maximum of $25,000 per rental unit renovated, with the balance of the project cost paid by the owner. Upon project completion and a 5-year compliance review, the TIF loan is forgiven.

Proposals are to be submitted in a sealed envelope to: City of Quincy, Purchasing Agent, 730 Maine St., Suite # 226, Quincy, IL 62301. The outside of the envelope must be clearly marked, “Downtown Rental Rehabilitation Program Proposals.” Proposals will be accepted no later than 4:00 p.m., February 6, 2025. RFP specifications and TIF Downtown Rental Rehabilitation Program Guidelines can be found online at www.quincyil.gov/bids. The City of Quincy reserves the right to waive technicalities and to reject any and all proposals. The City of Quincy reserves the right to accept the most advantageous proposal for the city.

By order of:

Mary-Ann Ervin
Purchasing Agent

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Pre-Bid Meeting Date: 11/20/2024 5:00 PM

Pre-Bid Meeting Details: Please sign up if you plan to attend the pre-bid meeting.A public informational meeting will take place on Wednesday, November 20, 2024 at 5:00 pm in the City Council Chambers located at Quincy City Hall, 730 Maine Street, Quincy, IL .

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