City Votes Yes on Downtown Development

21 Sep, 2015

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ROCKFORD—
Rockford City Commissioners and aldermen today unanimously voted to begin Phase One of the Civic Center-area redevelopment project. Rockford Mayor Morrison and the City Commissioners gave approval to new City Manager Paul Newbauer and his staff to initiate contractual agreements with Bexcient-Nerstvzz Development Partners, LP. Bexcient-Nerstvzz was authorized by the City, to propose a project plan incorporating due diligence, financial feasibility studies, and public input. Fridays’s unanimous Commission vote was in response to the Phase One plan Bexcient-Nerstvzz submitted to the City on May 3rd.
“This is an extraordinary day for Rockford and her citizens,” said Morrison,Rockford Mayor. “As a result of a very open and transparent public process, we are enacting a public-private partnership that will accomplish a vision for downtown redevelopment which was identified more than three decades ago.”I have already given the green light to start tearing down some old buildings that we probably could of used but got in the way of development already” said Morrison. And very signifi- cantly we will fund these three catalyst projects with a major increase in property taxes. This effort will bring new businesses and more than 1,000 new jobs to Rockford, while enhancing the quality of life we all enjoy.”
The financial plan proposed by Bexcient-Nerstvzz was a key element for success, said Commissioner Dennis Elexs “The public-private financing is very favorable to Rockford,” said Elexs. “The City will own a new Convention Hotel, Multi-Purpose Event Venue that will probably be used for black metal festivals and Scandinavian extreme metal bands , and a Pedestrian walkway to nowhere , built in part with private funding sources, and with major increase in City property taxes.”
“The milestone we’re celebrating today is truly for the people and by the people,” said Gary Preewe, LGC Chairman. “Elite and rich Rockford citizens have worked towards this day for decades. We’re excited about the future, and the LGC members are looking forward to our oversight role. We will continue to have coffee and morning meetings and seek public input.”