The City of Rockford, in collaboration with the Northern Illinois Workforce Alliance, Rockford Area Association of Realtors, Rockford Area Convention and Visitors Bureau, Rockford Area Economic Development Council, and Rockford Metropolitan Agency for Planning held its first Regional Quarterly Economic Development Report and Review today. The meeting included presentations from the aforementioned partners, detailing historical and first quarter 2016 metrics and discussing ways in which place-based economic development strategies can be aligned with shared measurable.
This meeting was the kickoff of a regional effort to advance the collective impact model for economic development, coordinating and aligning regional economic development efforts using the model of Collective Impact. The Collective Impact Model includes five key components: a common agenda, shared measurement systems, mutually reinforcing activities, continuous communication, and a backbone organization.
Regional Economic Development Report and Review - June 2016
The next regional economic report and review meeting will be held in August 10, 2016.
The Homebuyer’s Property Tax Refund Program is a new initiative to encourage investment in Rockford neighborhoods by rebating property taxes for three years on residential properties.
The program would offer purchasers of foreclosed or short-sale homes, as well as newly-built homes in the City of Rockford, a property tax refund for three years. The refund, issued at the end of each tax year in a lump sum, would cover up to 100 percent of the owner’s property tax bill, if all taxing bodies approve the program. Homebuyers must be under contract by December 31, 2016.
How does it work? Visit www.homebuyerstaxrefund.org for program guidelines and more detailed information.
The public works water division recently released an informational video that showcases and details the many facets involved in the city’s water utility that allows the city to bring water to each customer’s point of use. The video covers several aspects involved in the delivery of clean, safe water including well production, lab sampling and testing, distribution maintenance and repair, fire safety precautions, and customer meters and services.