TIF Funds are limited by each year by budget and funds available.
New Business Incentives & Tax Increment Financing (TIF)
TIF incentives are offered on a case-by-case basis. The City Council is open to individual requests for assistance. The use of TIF funds are restricted by State of Illinois Statute. Designated properties must reside within the TIF District. To learn more about how TIF funds can be used, visit the Illinois Tax Increment Association website at www.illinois-tif.com.
Business Retention & Expansion Program
This program provides TIF funds to help existing business expand. The City Council is open to individual requests for assistance. Properties must reside within the TIF District. Incentive potential is reviewed on a case-by-case basis and is based on projected growth in sales and/or property tax revenue.
Downtown Square Facade Program