What kinds of TIFs are there?

The Illinois Department of Commerce and Economic Opportunity (DCEO) has traditionally classified TIFs into five major categories:

Central Business District

Bloomington — In the last several years, 10 projects, representing a total investment of over $15 million, have been initiated in Bloomington’s Downtown TIF district. 75% of the investment has come from private developers. The two largest projects, the renovation of the Livingston Office Tower and two adjacent buildings, and the rehabilitation of the Livingston Department Store, have already increased the downtown district’s property value almost $5 million.

Shopping Mall/Commercial

Effingham - $3.0 million in TIF project bonds were issued for infrastructure improvements — utility easements, water tank construction, improved site drainage.

Industrial

Collinsville — A $200,000 TIF agreement for a new road and sewer line made it possible for the relocation of Vigoro, a fertilizer manufacturer, to a new $2 million facility. This will bring 85 to 90 full time jobs to the community, making it one of the largest employers in the city.

Mixed Development/Non- Central Business District

Columbia — The city approved 4 redevelopment projects designed to spur commercial growth. Projects include: a 7,000 square foot child and elder care center, a new Chrysler — Dodge dealership, a vehicle emissions testing facility, and a 50,000 square foot manufacturing plant. TIF was used as an incentive to keep the manufacturing plant in Columbia and to create 50 new jobs.

Housing

Gibson City — $375,000 in TIF funds attracted developers to build a $1.5 million congregate living project for the elderly. Developers rehabbed a school building into 34 one-bedroom living units. Additional service facilities include a library, dining room, and health office.

Types of TIF Districts in Illinois 1977 - 2000
Types of  TIF District	Number	Percent
Central Business District	128	18.2
Shopping Mall/Commercial Strip	65	9.3
Industrial/Conservation/Blight/Other	106	15.2
Mixed Development	357	51.0
Housing	42	6
Undetermined	2	.3
TOTAL	700	100
Source: Illinois Department of Commerce and Community Affairs

 

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