About the Downtown Development & Tax Increment Financing Plan
The Village Council of the Village of Quincy approved and adopted the original Downtown Development and Tax Increment Financing Plan in 1992. A number of the projects initially proposed have been accomplished, but many still remain. A new DDA Plan was approved by the DDA Board and Village Council in 2003. The Board of Directors is currently reviewing both plans and anticipates an update in 2018.
The goal and objective in the plan are to be achieved by undertaking projects which will enhance the downtown as well as visually and physically connecting the development areas. These projects are intended to improve parking areas and provide for pedestrian connection between the parking areas and retail businesses. Focal points and public areas will be identified under this plan and other physical improvements will be undertaken which will create a more advantageous and attractive environment.
The Quincy Downtown Development Authority (DDA) desires to promote the Quincy downtown area. In order to promote this, the Downtown Development Authority works with various business owners and building owners to improve the visual qualities of the downtown area. In furtherance of that, the DDA has authorized matching grants for 50% of the qualifying amount for the exterior building renovation or remodeling, including signage affixed to the building (based on Zoning Approval). The maximum qualifying amount of the grant shall be as follows:
Rear, front, and signs: 50% of expenses, to a maximum reimbursement of $4,000
Roofs: 25% of expenses, to a maximum reimbursement of $1,000
Further, all remodeling and renovations must receive DDA approval prior to the commencement of the work.