In June of 2018, the City of Kankakee adopted a visionary, dynamic and transformative plan for the Kankakee River and adjoining properties.
Considered by many experts as the highest quality river in the State, the Kankakee River boast superior water quality, uncommon moving and flat water recreational and ecologically diverse wildlife habitat.
Approximately 70 acres of publicly owned land is adjacent to the river with more expected as the City acquires flood prone homes along River Road. The Kankakee Riverfront plan envisions lighting on key bridges, streetscape enhancements, an extraordinary white water run, kayak/canoe launches, festival/entertainment venues, linear bike way / pedestrian walkways, pavilions, gardens, and enhanced landscaping.
More importantly, the Riverfront Plan cerates an opportunity for the development of adjacent multi-family, mixed use, hotel, restaurants and other development initiatives.
To learn more about the Kankakee Riverfront Plan, and how it will transform the Kankakee Downtown, “click here”
Tax Increment Financing utilizes incremental property taxes attributable to new growth as a way to incent private investment, and to finance needed public improvements. There are two established TIF’s within the City of Kankakee.
Created in ____, the 308 Riverstone TIF is TIF is intended to incent private investment in new and the renovation/rehabilitation of existing commercial and office buildings, development of highway related logistics and retail development, and allow for the installation of new welcoming and wayfinding signs at the 308 exit.