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Financial Incentives

TIFMap(Click image for full pdf map)

TIF Districts
TIF is a municipal financial incentive tool created by the IL State Legislative in 1978 to assist communities in implementing sound economic development.

Lincoln Highway/Cicero Ave - District #4

The new Lincoln Highway/Cicero Avenue tax increment financing district encompasses a number of different parcels surrounding and including portions of Lincoln Mall. All the land associated with these retailers and related parking areas as well as the property forming the south boundary are included in the TIF District. The total area encompassed within this redevelopment project area is approximately 125 acres. 


Auto Mall - District #5

TIF #5 was established in 2009, which includes approximately 75 acres of property. The improved land consists of commercial uses, including a portion of the development known as the Matteson Auto Mall. The vacant land adjoins industrial, commercial, institutional, agricultural, and recreational uses. Some of the property within the TIF area was developed for automobile dealerships with the design concept of having many dealerships in one location. Some parcels within the auto mall are excluded. 


Lincoln Highway/Governors Highway - District #6

TIF #6 was established in 2011, which includes 98 acres of property. The TIF area consist of land northwest and southwest of US 30 / Lincoln Highway that extends to Kostner on the south east. The improved land consists of commercial and office uses as well as vacant land that adjoining the commercial and office uses in the redevelopment project area. 


Business Districts
Municipalities are authorized to create Business Districts by the Business District Development and Redevelopment Law (65 ILCS 5/11-74.3-1 et seq.) (the “Business District Act”) in order to encourage private investment and attract sound and stable business and commercial growth.
 

Lincoln Highway / Cicero Avenue Business District  

The 2013 Amended Business District consists of 132 parcels and adjacent rights-of-way, approximately 58 principal structures and about 5 secondary structures. It encompasses approximately 575 acres. 


Auto Mall Business Development District 

The Business District was created in 2015 and consists of 78 parcels and adjacent rights-of-way. It encompasses approximately 137.8 acres.  


Matteson Gateway Business District  

The Matteson Gateway Business District was created in 2009. The district encompasses approximately 70 acres and includes 24 parcels.


Lincoln Highway/ Governors Highway Corridor Business District August 2009  

The Lincoln Highway/Governors Highway Corridor Business District was created in 2009 and includes 30 parcels and encompasses approximately 15 acres. 


Cook County Property Tax Incentives

Class 6b – Industrial Development

Up to 50% reduction in manufacturing, warehouse or distribution of company’s total property tax bill for 12 years. Renewable.


Class 6c – Environmental Cleanup & Development

Up to 50% reduction in property taxes for 12 years for commercial and industrial redevelopment of Brownsfields. May be combined with Class 6b or Class 8 incentives.


Class 7a and 7b – Commercial Development

Up to 50% reduction in a company’s total property tax bill for 12 years for projects in redevelopment areas.


Class 8 – Industrial or Commercial Development

Up to 50% reduction in a company’s total property tax bill for 12 years. This incentive is for facilities in areas in need of substantial revitalization.


Class L – Industrial or Commercial Development

Up to 50% reduction in property taxes for 12 years, for commercial or industrial rehabilitation of landmark buildings.


State Programs

Department of Commerce & Economic Opportunity (DCEO)
www.illinoisbiz.biz

 


Illinois Finance Authority (IFA)
www.il-fa.com

 


State Treasurer’s Economic Programs for Small Businesses
www.state.il.us

 


Small Business Administration
www.sba.gov