Altamont Council Agrees to Pursue New Enterprise Zone

Altamont city council members have endorsed efforts to continue an Enterprise Zone for the city, as well as areas outside the city. The zone would also extend to, and include, all of the Village of Beecher City.

Enterprise zones in Illinois offer incentives including exemption of sales tax on building materials used on projects within the zone, as well as abatement of property taxes on improvements within the zone.

The new zone would include the same incentives as the current zone; a 10-year property tax exemption for commercial projects, and a five-year exemption for residential projects. 

The new zone would include the same territory as is currently included within the Altamont city limits, but would also include the Altamont Reservoir, as well as an easterly extension along US Route 40 as far as the On the Rox bar and a westerly extension along Route 40 as far as Illinois Route 128. That westerly extension would then head north along Route 128 to Illinois Route 33 and then east along Route 33 into Beecher City. All of the Beecher City village limits would be included, and there would be sufficient ground along Route 33 to permit developments.

Altamont City Clerk Sarah Stephen said while Altamont has had an Enterprise Zone for many years, this zone would be a new opportunity for Beecher City. Stephen said zone applications are viewed more favorably as more opportunities for development are created.

Affected taxing bodies have to give their blessing to the zone application since their property tax revenue is affected by the exemptions offered within the Zone. South Central Illinois Regional Planning and Development Commission will be making presentations to the taxing bodies on behalf of the Enterprise Zone proposal.

Also this week, the Altamont Council approved general liability and workers compensation insurance coverage through Illinois Municipal League Risk Management for $136,772, no increase over last year's premium. The Council also renewed employee health insurance coverage through Healthy Lifestyle at a 1.3% increase over last year's premiums,

The Council also began discussion on a citywide project to replace all of the aging water mains within the city. City Commissioners will be getting the word out to Altamont residents as the project develops.