McFarland Tax Increment Financing Development Incentives
McFarland may provide TIF development incentives for eligible projects in Village TIF districts that create public benefit and would not proceed as proposed without assistance.
About this program
The Village of McFarland uses Tax Increment Financing development incentives to stimulate redevelopment of vacant, underutilized, or blighted properties within Village TIF districts. Requests for financial assistance with building construction projects are referred to the Community Development Authority for review and recommendation to the Village Board, with assistance evaluated based on public benefit, financial need, tax base growth, job and service benefits, and consistency with Village economic development goals.
Eligibility
Developers, businesses, property owners, and project sponsors with eligible development or redevelopment projects in McFarland TIF districts may apply for project-specific Village financial assistance.
Requirements
- Project must generally be located within one of the Village of McFarland's Tax Increment Finance districts.
- Project must stimulate development or redevelopment of vacant, underutilized, or blighted property.
- Applicant must demonstrate that the project would not occur, or would occur to a lesser extent, timeline, or quality, but for the requested TIF assistance.