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Moline Could Help Growing Company

Russell Construction

Moline may help a company that wants to expand in the Quad Cities. Tonight, the city council will consider an "economic incentive agreement" for the development of a vacant property on 22nd Avenue at 53rd Street in Moline.

Planning and Development Director, Ray Forsythe, says the collection agency, H&R Accounts, has a lease with Russell Construction, to build a new 4.8-million-dollar office building. 

The company plans to add up to 50 new employees in the next five years, and has also been looking at properties in East Moline and Silvis.
Since the vacant property in Moline is not in a TIF district or enterprise zone, city staff is proposing an agreement to help pay the development costs. Moline would rebate property taxes over the next 10 years, totalling about $196,000. 


The rebate would begin in 2018 with 100-percent of the property tax revenue being refunded for the first three years. 

Forsythe says this is the first agreement like this that he's worked on with the City of Moline. He'll present the plan tonight, and the city council will vote next month.