Financial Assistance

Village Assistance

  • Tax Increment Financing (TIF) - TIF is available for those seeking to redevelop a site. It works on the basic principle that the redevelopment creates new tax revenue 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.
  • Facade Grant Program - The Facade Grant Program was designed to incentivize Fox River Grove businesses to make improvements to the exterior of their building and surrounding area. This cost sharing facade improvement program can contribute substantial funds towards the costs of such improvements.
  • Business District - Similar to a TIF district, tax revenues generated within a defined boundary may be retained to pay for project costs within that district. Please contact the Village Hall at 847-639-3170 for more information.

County Assistance

  • Revolving Loan Fund - This fund is intended to provide an affordable source of financing to businesses located or to be located in McHenry County to help support business growth and job retention. It can be used in conjunction with or in place of traditional commercial or SBA loans.
  • McHenry County Economic Development and Business Incentive Program - This program is based on a rebate of up to 50% of the property tax increment generated from new or increased EAV as a result of property investment, development and / or revitalization of underutilized property. In unique circumstances, tax abatements may also be considered at the discretion of the County.

State Assistance

  • State Incentives & Programs - The State of Illinois provides several incentives and programs available ranging from loans to tax credits to grants.

Contact Us

Village Hall
305 Illinois Street
Fox River Grove, IL 60021
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  • Telephone: 
    (847) 639-3170
  • Staff Directory
  • Office Hours:
    M-F 8:30 a.m. - 4:30 p.m.

Fox River Grove, Illinois

Village Hall
305 Illinois Street
Fox River Grove, IL 60021