NCICG ASSISTS THE CITY OF PRINCETON

IN OBTAINING A $676,920 GRANT FROM EDA

NCICG assisted the City of Princeton in successfully obtaining an Economic Development Administration (EDA) Grant for $676,290.  This grant will be matched with $225,640 in City funds for a total project cost of $902,560. 

This project will provide infrastructure to a 137+ acre site owned by the City of Princeton, Illinois.  The site is located north of Interstate 80 directly north of an existing industrial park and just off of Route 26.  The entrance from Route 26 will go through the existing industrial park.  This section of road will be improved.  The site is located in the Bureau/Putnam County Area Enterprise Zone. 

The project includes getting the following improvements to the site:

Ø      Improving about 2,000 lf of existing road.

Ø      Installing 600 lf of new road to the site. 

Ø      Installation of approximately 900 lf of watermain.

Ø      Installation of approximately 1,100 lf of sewermain.

Ø      Installation of curb and gutter along the new road.

Ø      Installation of city owned electrical service.

Ø      Installation of city owned fiber optic cable for Internet service.

In 2008 the City of Princeton purchased the 137+ acre site for $3.2 mil after losing out on a new logistics business development project at the site.  A logistics business was looking at the site for the construction of a 1 million square foot facility however that project did not come to fruition.  Following that, the City developed a concept plan for the site that would allow for two such investments on the property.  One of the major hindrances to getting infrastructure to the site are 2 large gas pipelines.  The City’s vision is to provide a development ready site so that future private sector investment development projects will not be hindered.