What is a TIF Grant?
A TIF Grant is a grant awarded to a non-residential project within the TIF boundaries of the City of Zion that has met certain criteria deeming the project eligible and viable to receive grant funding.
Who can apply for a TIF Grant funds?
Any new or established business can apply for a TIF grant.
What can I use the funds for?
The funds may be used for any construction related improvements to the building that bring it into compliance with city codes and in the interest of adding to the assessed value of the property. In addition, improvements can be made that will support or enhance the viability of the approved business such as signage,
display shelving, flooring, lighting, etc. Relocation costs related to acquiring
the site, engineering, legal and architectural services, are also acceptable uses
of the funds. Prohibited uses include inventory, equipment, labor, working
capital or non-acquisition and building improvement costs.
How do I apply for a TIF Grant?
Click here to download the TIF Grant Application as a PDF document.
You can also pick one up from the City of Zion Department of Economic Development, Monday through Friday from 8:00am to 5:00pm. Applications
are submitted to the TIF Board of Review for consideration.
All recommendations \from the TIF Board of Review are then submitted
to the Zion City Council for approval.
When does the TIF Board of Review meet to consider applications?
The TIF Board of Review meets the 2nd Monday of every month
at Zion City Hall at 4:00pm as needed.
Who should I contact for more information about the Tax Increment Finance Grant Program?
For more information you can contact Delaine Rogers, Director of the
Department of Economic Development at (847) 746-4015
or via email at delainer@zion.il.us.
TIF Review Board
Members
|
