Tax Increment Financing (TIF)

Tax Increment Financing (TIF) is available for those seeking to redevelop a site. TIF works on the basic principle that the redevelopment of the site will create new revenues for the local taxing bodies as property values rise. The additional revenues are retained within a defined district for a limited period of time to help pay for project costs within that district.

The Village currently has two active TIF districts described below. Included are links to the project plans and project plan amendments (if any).

TID Number 1 - Route 14 / Route 22

This Village Tax Incremental District (TID), the Route 14 / Route 22 Redevelopment Project Area, was approved on May 21, 1998 with an estimated final completion date of December 31, 2021. This area, which is almost entirely built out, includes the buildings of Stonehill Center and Foxmoor Crossing. This TID was created to spur local job opportunities and add retail businesses what would build the Village's sales tax base.

TID Number 1 Project Plan

TID Number 2 - Downtown

This Village Tax Incremental District (TID), the Downtown Redevelopment Project Area, was approved on September 3, 2015 with an estimated final completion date of December 31, 2038. The 47 acre area includes 110 structures on 99 parcels. This TID was created to revitalize the Downtown as a strong and attractive mixed use corridor.

TID Number 2 Project Plan

For more information about potential TIF assistance from the Village, please contact Village Hall at 847-639-3170.

Contact Us

Village Hall
305 Illinois Street
Fox River Grove, IL 60021
Get Directions

  • Telephone: 
    (847) 639-3170
  • Staff Directory
  • Office Hours:
    M-F 8:30 a.m. - 4:30 p.m.

More Information

Fox River Grove, Illinois

Village Hall
305 Illinois Street
Fox River Grove, IL 60021

847-639-3170