Business Report: Changes Coming For Kmart Site; Quiet Zone For Trains; East Side TIF District

Nov 29, 2016

Sean Crawford talks with the State Journal-Register Business Editor Tim Landis.

This week:

* Kmart space:  Corporate owner of the Kmart space on Wabash has signed Burlington Coats and Outback Steakhouse to move in once Kmart moves out sometime in January; part of larger renovation of Sherwood Plaza shopping center.

* East side TIF: TIF district that was all but out of money five years ago has rebounded, mainly with payoff of bond debt but also as result of commercial development in area around J.C. Penney's; frees money for future development.

* Quiet zone: IDOT says Third Street corridor will qualify for a "quiet zone" for trains  once crossing, fencing, signal and other upgrades are completed in 2017; city still would have to get approval from Federal Railroad Administration.

Read the latest stories Tim is working on each day in the SJ-R.