City of Mt. Vernon Council Meeting Minutes April 2026
City approves land sale and TIF deal for arena
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Description
The Mt. Vernon City Council approved Ordinance #2026-16 authorizing the sale of 5 acres in Chelsey Industrial Park to Fritz Krampe Enterprises LLC for $25,000 and a redevelopment agreement for The Arena Trampoline Park. The agreement includes $471,550 in TIF assistance, equal to 15% of the project cost, to be paid over the remaining life of the TIF district through December 2034.
Contract Details
Contract Amount
$25,000 for land purchase; TIF assistance of $471,550 (15% of project cost, paid over remaining life of TIF through December 2034)
Vendor
FRITZ KRAMPE ENTERPRISES LLC
Agency
City of Mount Vernon, IL
Contract Type
OTHER
Document Date
April 6, 2026
Contract Term
TIF assistance paid over remaining life of TIF District through December 2034
Renewal Date
2034-12-31
Renewal Info
TIF assistance will be paid over the remaining life of the TIF district, which is set to expire in December 2034; no renewal terms are described.
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