Typical TIF Projects
TIF funds may be used for costs associated with the development or redevelopment of property within the TIF, allowing blighted, declining and under-performing areas to again become viable, and allowing these areas to compete with vacant land at the edge of urban areas.
Typical projects include:
- The redevelopment of substandard, obsolete, or vacant buildings.
- Financing general public infrastructure improvements, including streets, sewer, water, and the like, in declining areas.
- Cleaning up polluted areas.
- Improving the viability of downtown business districts.
- Providing infrastructure needed to develop a site for new industrial or commercial use.
- Rehabilitating historic properties.
Types of Eligible Costs
The eligible uses for TIF funds are provided in Illinois’ Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 through 11-74.4-11): the TIF Act.
The Illinois TIF Act generally authorizes that TIF funds may be used for:
- The administration of a TIF redevelopment project.
- Property acquisition.
- Rehabilitation or renovation of existing public or private buildings.
- Construction of public works or improvements.
- Job training.
- Financing costs, including interest assistance.
- studies, surveys and plans.
- Marketing sites within the TIF.
- Professional services, such as architectural, engineering, legal and financial planning.
- Demolition and site preparation.
Some restrictions may apply.
TIF Districts Map
O-61-2011 Establishment of TIF Parties Registry
Active Bensenville TIF districts: