IH Mississippi Valley Credit Union built a new $26 million headquarters in Moline. The project received a tax incentive up to $3.9 million.
“The city will sell property to the $1.2 billion credit union for $2.925 million, which will be used to construct an 80,000-square-foot, four-story facility.
As part of the agreement, IH Mississippi Valley will receive a tax increment financing (TIF) incentive payment of up to $3.9 million, or 15 percent of the $26 million project. The credit union also will be rebated for eligible TIF expenses, including site work up to $525,000. The total incentive package is up to $4.425 million, which equals 17 percent of the total cost of the project.”
Read more in the article from Credit Union Watch.