The City of Normal, Ill., is considering creating a tax-increment financing district to help assist in the renovation of a historic Route 66 gas station, reports the Bloomington Pantagraph.
The gas station in question at 305 Pine St. is owned by Terri Ryburn. The Tudor Revival-style station was built in the 1930s and was recently added to the National Register of Historic Places. Ryburn already has received a grant for a new roof and temporary heating, but a complete renovation will cost an estimated $1.2 million.
A TIF district allows extra property-tax money generated from higher property values to help fund redevelopment. Ryburn wants to convert the station into a Route 66 visitor center, gift shop, restaurant, bed-and-breakfast and tea room.
The city council reportedly will whether to create the TIF district tonight.
(Photo courtesy of Guy Randall.)
I’ve enjoyed reading the updates on this project, as it’s such an interesting structure (and those are the type that make 66 so enjoyable to me). I hope the get the TIF.
I like your new addition of highlighting historic building and points of interest along Route 66. Its important to pass on the historic value of these structure and what they mean (or should mean) to the area and the population. Good work. I enjoy reading your blog.