The Kankakee River Edge Redevelopment Zone (KRERZ) will help revive and redevelop properties along the Kankakee River. KRERZ provides several incentives authorized by Illinois State law, including sales tax exemption and property tax abatement.
As part of the City of Kankakee’s proactive approach to economic development, we’ve engaged stakeholders at every level to ensure the successful launch of the River Edge Redevelopment Zone (RERZ) - a program designed to unlock new investment and redevelopment opportunities in targeted areas.
On February 13, 2024, we hosted a public hearing to introduce the RERZ and gather community input. The hearing provided a platform for residents, businesses, and civic leaders to engage directly with the proposal—resulting in meaningful dialogue and strong community awareness. That same day, the City of Kankakee Planning Board expressed consensus support to move forward, recognizing the program’s unique potential to attract and retain investment.
To further build alignment with local taxing bodies, the RERZ was presented to the Joint Review Board (JRB) on March 6, 2024. This session educated public officials on the program’s economic goals, geographic boundaries, and development potential. The meeting included open discussion and public comment to foster informed collaboration across agencies.
Understanding the importance of private sector participation, we hosted a targeted investor and business informational event on March 26, 2024, in partnership with the Illinois Department of Commerce and Economic Opportunity (ILDCEO). This session connected local developers, property owners, and business leaders directly with state officials to explore incentives, investment eligibility, and long-term redevelopment strategies within the RERZ.
Access the full event recording here: City of Kankakee River Edge Redevelopment Zone Information Session Full Video, March 2024
Looking ahead, both public and private sector partners remain committed to the successful implementation of the River Edge Redevelopment Zone. Local government agencies will continue to provide technical support and oversight, while community and business leaders are poised to advocate, invest, and participate in projects within the zone. This broad coalition of support ensures that the River Edge Redevelopment Zone will serve as a catalyst for long-term economic growth, job creation, and environmental revitalization along the riverfront.