Monroe-Randolph Enterprise Zone
The City of Waterloo is a participant in the Monroe-Randolph County Enterprise Zone beginning January 1, 2020 pursuant to Section 5.3 of the Illinois Enterprise Zone Act, 20 ILCS 655/1, and will be in effect for an initial fifteen (15) calendar years expiring on December 31, 2034. An Enterprise Zone is designed to stimulate economic growth and neighborhood revitalization through state and local tax incentives, regulatory relief, and improved governmental services.
The Monroe-Randolph County Enterprise Zone includes certain real estate located in the Counties of Monroe and Randolph, the Cities of Columbia, Waterloo, Chester, Red Bud, and Sparta, and the Villages of Valmeyer and Evansville.
Businesses located (or those that choose to locate) in a designated enterprise zone can become eligible to receive the following incentives: Building Sales Tax Exemption, Investment Tax Credit, Manufacturing, Machinery and Equipment Sales Tax Exemption, and Utility Tax Exemption.
Enterprise Zone Administrator:
Ms. Edie Koch
618-806-4739
ekoch@mciledc.om
Facade Grant Program
The City of Waterloo wishes to redevelop the downtown area as a shopping and entertainment destination for visitors and local residents.
This program will provide funds to encourage downtown property owners to improve their buildings “curb appeal.” As well as provide grants to beautification projects for city property as deemed appropriate.
The City of Waterloo will match approved improvements dollar for dollar up to $5,000.00 (50/50) and dollar to three dollars for an additional $5,000.00 (25/75), for a maximum of $10,000 available for approved projects. Only expenses actually incurred (documented by receipts or lien waivers) are eligible to be reimbursed.
Energy Efficiency Grants
Electric efficiency projects undertaken by a commercial customer of Waterloo’s electric utility may qualify for an incentive reimbursement through the Illinois Municipal Electric Agency’s (IMEA) Electric Efficiency Program. Commercial, industrial, institutional, local government or non-government (schools, parks, museums, etc.) customers are all eligible to apply.
