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IL
Bloomington Tax Increment Financing Assistance
Bloomington may provide TIF assistance for eligible redevelopment, infrastructure, and business development projects in City TIF districts.
About this program
The City of Bloomington may use Tax Increment Financing to support eligible commercial, industrial, institutional, infrastructure, and redevelopment projects located within active TIF districts. Assistance is discretionary and project-specific, and may be structured as pay-as-you-go support, infrastructure improvements, cost reimbursement, or other local economic development assistance for projects that meet statutory and City guidelines.
Eligibility
Businesses, developers, property owners, and institutions with eligible projects located in a City of Bloomington TIF district may be considered for assistance.
Requirements
- Project must be located in an active Bloomington TIF district.
- Project must meet Illinois TIF eligibility standards and City economic development guidelines.
- Applicant must demonstrate that the project would not proceed as proposed without public assistance.