The Collinsville City Council on Monday night awarded nearly $40,000 in tax increment financing funds to a pair of businesses, as well as $18,000 to a former city employee in a workers’ compensation settlement.
Home Federal Savings and Loan, 100 E. Clay St., will receive $35,200 in TIF funds to replace the building’s furnace and air conditioning units.
According to the business’ TIF application, Home Federal Savings and Loan is the largest private employer in uptown Collinsville, with 17 full-time and two part-time employees.
A second business, Sizzor Shak, which occupies 206-208 E. Main St., will receive $3,850 in TIF funds to replace a 39-year-old furnace and 20-year-old air conditioning unit, according to the TIF application. The TIF funds will also be used toward a new outdoor awning for the business.
The City Council also accepted an Illinois Workers’ Compensation Commission Settlement Contract Lump Sum Petition and Order.
The settlement payment is $18,258 for an employee whose left arm was injured on May 19, 2014, during a training accident at the FBI National Academy. The employee had returned to work following the incident, but retired Sept. 2, 2014. The settlement represents a 10 percent loss of use of the employee’s left arm.
The City Council meets next at 7:30 p.m. Monday, Nov. 9, at City Hall, 125 S. Center St.