The Village strives to be responsive to its residents, and the Grand Avenue business district has long been a source of concern to residents, as well as the Village. After listening sessions with residents and community stakeholders, the Village Board prioritized the redevelopment of Grand Avenue as a goal of the Village’s Strategic Plan. To revitalize the Grand Avenue corridor, the Village of Lindenhurst took the necessary steps to designate much of this area as a Tax Incremental Financing (TIF) district. The Village believes that without this redevelopment tool, opportunity and vitality much needed in this particular area may not occur. With the TIF, we endeavor to redevelop the Grand Avenue business corridor into a modern, more appealing commercial district.
Tax Incremental Financing (TIF) helps local governments attract private development and new businesses. New businesses mean more jobs, more customers, and, in turn, more private investment. TIF designation also helps retain existing businesses that might otherwise find more attractive options elsewhere. The jobs and additional investment --- private and public --- mean more money for the community. TIF also helps to overcome the extraordinary costs that often prevent development and private investment from occurring on environmentally contaminated and other properties, and it’s also used where infrastructure is inadequate or there is obsolete development. As a result, the TIF area itself improves and property values go up.
Since the Federal and State governments have greatly reduced their support for economic development, Tax Increment Financing permits municipalities to accept some of this responsibility without raising local property taxes.
Without TIF benefits, a deteriorating area will not improve. Businesses do not sink capital into decaying areas and most local governments cannot afford the needed costly improvements without raising taxes. But in a TIF district, dollars for improvements are generated by businesses --- new and old --- attracted by the TIF benefits. Specifically, money for infrastructure improvements and other incentives comes from the growth in property tax revenues --- the tax increment.
To learn more about Tax Increment Financing, visit the TIF FAQs page or Illinois Tax Increment Association’s web page.
Click here to view the Proposed TIF Map. Please complete this form to leave your valuable Feedback.
TIF funds may be used for costs associated with the development or redevelopment of property within the TIF, allowing blighted, declining and underperforming areas to again become viable, and allowing these areas to compete with vacant land at the edge of urban areas. Typical projects include:
Illinois Municipal League TIF District List
The eligible uses for TIF funds are provided in Illinois’ Tax Increment Allocation Redevelopment Act, also known as the TIF Act. The Illinois TIF Act generally authorizes that TIF funds may be used for the following:
The current operational Tax Increment laws in Illinois are:
Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4.1 et seq.)
Industrial Jobs Recovery Law (65 ILCS 5/Art. 11 Div. 74.6)
Economic Development Project Area Tax Increment Allocation Act of 1995 (65 ILCS 110/1 et seq.)
County Economic Development Project Area Tax Allocation Act (55 ILCS 85/)
Business District Development and Redevelopment Act (65 ILCS 5/11-74.3 et seq.)
Tax Increment Financing (TIF) FAQs
2020 Strategic Plan & Goal Development
Proposed Grand Avenue TIF Maps (drawing and satellite)
Village Board Meeting Minutes 7-13-2020
RFP Village Addendum 8-11-2020
RFP: Teska Associates Grand Avenue TIF Feasibility Study 8-17-2020
Village Board Meeting Minutes 9-14-2020
TIF Preliminary Review 11-18-2020
Village Board Meeting Minutes 12-14-2020
Village Voice Newsletter- November/December 2020
Village Voice Newsletter- January/February 2021
Village Voice Newsletter- March/April 2021
If you have any questions regarding this service, please contact Clay Johnson.