Shelbyville to tap tax funds from 2nd business district
SHELBYVILLE, Ill. (AP) — Shelbyville city officials are creating a second business district that will benefit from a 1 percent sales tax.
The (Decatur) Herald & Review reports (http://bit.ly/1PYKrQd ) the City Council met with a consultant after voting unanimously to create a district which includes a County Market grocery store and a Walmart.
The city already has one business district. A 1 percent sales tax generates $15,000 a month which can be put back into infrastructure improvements or as local matching funds for state and federal projects.
Mayor Jeff Johnson says the money gives the city a way to take advantage of development opportunities. He says if a grant becomes available for a road project, the city must pay a percentage. Business district funds can be used without tapping money already budgeted elsewhere.