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Batavia committee to discuss funding support for proposed River Street housing project
Officials will consider a proposal to provide $1.2 million in TIF funding for a proposed 72-unit affordable housing project on South River Street during the May 13 Committee of the Whole meeting.
Sam Kraft
May 10, 2025 • Estimated Reading Time: 2 minutes
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A project rendering from the city memo.
The Batavia Committee of the Whole will discuss a proposed $1.2 million incentive package on Monday, May 13, that would support a new 72-unit affordable housing development on South River Street.
The project, called The Residence at River Point, is being proposed by Fox River Affordable Housing in partnership with the Housing Authority of Elgin. It would redevelop the old quarry site in the 400 block of South River Street, currently zoned for light industrial use, into a mixed-income apartment building (maximum three stories).
To help close a funding gap, the developers are asking the city to allocate $1.2 million from its TIF #3 reserves to assist with land acquisition and planning costs. Any financial commitment would still require full City Council approval and does not guarantee zoning approval, which would follow a separate review process.
The project remains in the early stages and is contingent on receiving funding from additional sources, including Low Income Housing Tax Credits and support from the Illinois Housing Development Authority.
View the city memo for further details.
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