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Carbon Cliff Illinois

106 1ST AVENUE  |  P.O. BOX 426  |  CARBON CLIFF, ILLINOIS 61239  |  P: 309 / 792.8235  |  F: 309 / 792.3267

Tax Increment Financing “T.I.F.” Commissions

T.I.F. I
Terminated on April 5, 2011

T.I.F. II
Terminated on March 8, 2013

What is a T.I.F. District?

Tax Incremental Financing (TIF) helps local governments attract private development and new businesses. New businesses mean more jobs, more customers, and, in turn, more private investment. TIF designation also helps retain existing businesses that might otherwise find more attractive options elsewhere. The jobs and additional investment --- private and public --- mean more money for the community. TIF also helps to overcome the extraordinary costs that often prevent development and private investment from occurring on environmentally contaminated and other properties. As a result, the TIF area itself improves and property values go up.

Since the Federal and State governments have greatly reduced their support for economic development, Tax Increment Financing permits municipalities to accept some of this responsibility without raising local property taxes.

Without TIF benefits, a deteriorating area will not improve. Businesses do not sink capital into decaying areas and most local governments cannot afford the needed costly improvements without raising taxes. But in a TIF district, dollars for improvements are generated by businesses --- new and old --- attracted by the TIF benefits. Specifically, money for infrastructure improvements and other incentives comes from the growth in property tax revenues --- the tax increment.

For more information about T.I.F. Districts you may visit www.illinois-tif.com

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T.I.F. #1 & T.I.F. # 2 Map

106 1ST AVENUE  |  P.O. BOX 426  |  CARBON CLIFF, ILLINOIS 61239  |  P: 309 / 792.8235  |  F: 309 / 792.3267

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LAST UPDATED ON:  MAY 20, 2013

 

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MEETINGS

MAY 7 - Regular Village Board
7:00 pm

MAY 8 - Regular Village Board - Special Meeting
6:00 pm

MAY 13 - Public Properties
6:00 pm

MAY 13 - Public Safety
7:00 pm

MAY 14 - Public Works
6:00 pm

MAY 14 - Administration
7:00 pm

MAY 21 - Regular Village Board
7:00 pm

MAY 23 - Ad Hoc “Flood”
6:30 pm @ Eagle Ridge