Starting an individual thread now that the district has been approved and could become one of the region's largest developments. This is not the final approval. It just allows Glen Carbon to consider using STAR bonds which will be reviewed/approved in 2027. "The Glen Carbon district received approval as the largest type of STAR bond district, which the legislation terms NOVA, an acronym for New Opportunities for Vacation and Adventure. Under the STAR bond legislation, NOVA incentives require more than 500 acres of development and a reasonable expectation of at least $500 million in capital investment, with at least $300 million in planned gross annual sales." ... "In order to qualify for NOVA incentives, the project would have to attract more than 1 million visitors annually and create at least 1,500 jobs."
https://www.bizjournals.com/stlouis/new ... tzker.html
Destination Illinois by C.R. Holland proposes a $1.97 billion project on 1,534 acres at the interchange of interstates 270 and 255. The project could include big-box retail, multiple hotels, athletic facilities, public facilities, restaurants and breweries. The site could also potentially include residential and office development, the developer said in plans submitted to the village. The state approval allows Glen Carbon to consider using STAR bonds, a financing tool that uses new sales tax revenue generated inside a project area to cover eligible development costs.
https://www.bizjournals.com/stlouis/new ... tzker.html
Destination Illinois by C.R. Holland proposes a $1.97 billion project on 1,534 acres at the interchange of interstates 270 and 255. The project could include big-box retail, multiple hotels, athletic facilities, public facilities, restaurants and breweries. The site could also potentially include residential and office development, the developer said in plans submitted to the village. The state approval allows Glen Carbon to consider using STAR bonds, a financing tool that uses new sales tax revenue generated inside a project area to cover eligible development costs.


