Mendota approves TIF agreement for car dealership

The Mendota City Council on Monday voted in favor of approving a Tax Increment Financing Redevelopment Agreement for Prescott Brothers, Inc.

The project area will be the car dealership located in the 600 block of 13th Avenue.

The TIF funds, not to exceed $400,000, will be issued as a forgivable loan over five years by the city to partially fund new building construction and renovation. Prescott Brothers, founded in 1929, owns three dealerships, including Mendota, Princeton and Rochelle.