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The Elgin Economic Development Corp. is growing its footprint along Depot Street in a bid to shape downtown Elgin while protecting its smalltown character.
EDC Director Kaley Frye told City Council last week the corporation acquired 412 and 416 Depot St., bringing its holdings to about 8.5 acres. The properties were approved for acquisition in May following years of feedback from council, the EDC board and community members.
“We want to keep Elgin Elgin,” Frye said. “We want to preserve our downtown and protect what we have.”
A third property consisting of three parcels is under contract and could close soon, according to Frye, adding more land to the EDC’s downtown holdings. She said controlling the land helps the EDC better guide future development.
“If we want to have a meaningful voice in what happens in our downtown … then sometimes we have to have a seat at the table,” she said.
The EDC and city are preparing to formalize a partnership agreement to launch the next phase of planning, according to officials.
“We will gather community input, explore possibilities, and create a vision that supports a vibrant downtown,” Frye said.
The agreement is scheduled to go before the EDC board Sept. 9 and City Council Sept. 15.
Additional details are expected to be presented to council next month.
