A quick dive around the city and you’ll see construction sites that will soon house new businesses. From Zaxby’s Chicken to the much anticipated return of Chef Scott’s, the city is more than happy to see this strong economic outlook. “In 2022, we actually brought in $378k in business permits,” said Stringfellow. “It show the growth of residential and business. It’s a big difference between the year 2021 and 2022.” Another business that will be opening in the downtown area is Kilwins Ice Cream. The Board of Alderman will meet on Tuesday for a zoning change request for a mixed-use development where The Cottages are located on Government Street.
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Vallas’ development plan focuses on a series of financial
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Vallas’ development plan focuses on a series of financial tools that he said would invest in the South and West sides. That includes creating an “independent community development authority” that will be in charge of doling out city funds and directing city agencies to spur local economic growth. “It would operate free of City Hall politics ... and of aldermanic privilege,” Vallas said. “The determinations of what must be done will not be driven by LaSalle Street and the Department of Planning.” The commission would use the money for projects including renovating homes, funding small businesses, micro-financing loans, developing industrial parks and supporting social services. Vallas also floated a municipal “fair share investment trust” that would operate like the city’s own hedge fund, using an allotment of new tax-increment financing revenues, developer fees and gambling revenues toward commercial and mortgage loans on the South and West sides. That idea would also likel...