Business Incentives

Tax Increment Financing Districts


TIF #1: Designation: March 2002 Expiration: December 2025

The approximately 70-acre area of the Lake Zurich TIF District is intended to facilitate the preparation of vacant and underutilized sites. The sites will be used for new retail, commercial, and residential development, and off-street parking. The TIF is located within the downtown redevelopment area of the Village. The TIF District is also designed to re-establish the downtown as a vibrant, mixed-use area. It will strengthen the economic well-being and quality of life in the downtown by providing resources for redevelopment. Additionally, it provides resources for additional parking, streetscaping and landscaping to create a distinct area and to link its diverse land uses. The TIF also facilitates the improvement and expansion of existing public facilities, such as parks and parking.

Growth in Equalized Assessed Value


Equalized Assessed Valuation (EAV)
Amount 
Base EAV (2002) $12.6 million
EAV 2010 $23.1 million
Percentage Increase from Base Value 83%

View the Links below for More Detailed Information


 

TIF District Boundary

map of TIF district