TIF Districts

About TIF

TIF (tax increment financing) is a tool used by local governments to encourage economic growth within TIF districts by dedicating tax revenue generated within the TIF for improvements within the district. The state allows a TIF district to be in place for up to 23 years. When a TIF district is established, the current value of property within the district is used to establish the "base" tax revenue received by the various taxing bodies (e.g. the village, school district, township, park district, etc.). This base tax revenue continues to be distributed to the various taxing bodies throughout the life of the TIF district. The future growth of property values within the TIF district, and the additional property tax generated by the increased values, is known as the increment. The increment is used by the village to make investments in the TIF district to encourage continued economic growth within the district. Location within a TIF district does not alter the property tax rate for individual property owners.

For more information on TIF districts, visit the Illinois TIF Associate website.

Proposed TOD TIF

Public Hearing: August 13, 2018
Proposed Boundary map

The Village of Lemont is proposing the creation of a new TIF District to assist the Village in redeveloping the downtown area near the Metra Station, a planning strategy known as Transit-Oriented Development (TOD). The proposed redevelopment area is focused on properties to the east and south of Lemont’s Metra Station, primarily along Main Street and Illinois Street, and also including the Peterson’s Hardware properties on Canal Street. A majority of the properties were in the Village’s Downtown TIF, which expired in 2014. All but one property is in the Downtown zoning district. Peterson’s Hardware is presently within the Canal TIF and is proposed to be remapped.

Lemont 2030 Comprehensive Plan calls to “Develop Downtown as a Destination for Residents and Visitors,” stating:
"Additional efforts should be dedicated to develop downtown’s assets. The continued vitality of downtown was a key priority expressed during the Lemont 2030 public visioning process. Additionally, downtown represents an area of significant prior investment by the Village. From 1999 to 2010, over $5.4 million of TIF funding has been spent on public infrastructure improvements in the downtown TIF district, and nearly $1 million has been spent on marketing, façade grants, and other improvement efforts....For all of these reasons, downtown warrants dedicated economic development efforts."

TOD TIF Redevelopment Plan and Project

Canal TIF

Created: February 2006
Expires: February 2029
Boundary map

The Canal TIF District was created to provide TIF district funding to the portion of downtown Lemont that was not included in the original Downtown TIF district. The goal of both the Canal and Downtown TIF districts is to promote a vibrant downtown Lemont, characterized by a complimentary mix of retail and residential uses. Projects within the TIF district have included:
  • Construction of a 262-space public parking structure. Opened in 2009, the parking structure provides free parking for downtown residents, business owners, and visitors.
  • Reconstruction of River Road and Front Street. Reconstruction included new water and sewer mains, curb and gutter, sidewalks/pavers, street lights, pavement, etc.
  • Relocation of overhead ComEd, AT&T, and Comcast utilities along River and Front Street to underground. The relocated utilities serve 340 River, parcels west of 340 River, and the Post Office block.

Gateway TIF

Created: February 2009
Expires: February 2032
Boundary map

The Gateway TIF district is the most recently created of Lemont's three TIF districts. The Gateway TIF encompasses approximately 156 acres of property between the I&M Canal and Archer Avenue, including the industrial district west of IL-83. The goal of the Gateway TIF district is to spur economic growth in area that has inadequate utilities, deleterious land use, and deteriorating infrastructure. Redevelopment projects have not yet begun in the Gateway TIF District. However, through the assistance of a Special Service Area (SO) within the TIF District, water and sewer utilities have been extended along Main Street to IL-83.

Main & Archer TIF

Created: January 2017
Expires: January 2040
Boundary map

The Main & Archer TIF district is the most recently created of Lemont's three TIF districts. This TIF encompasses 16.2 acres of Village-owned property located at Route 83/Archer Avenue and Main Street/111th Street. Additionally, there is approximately 5 acres of privately owned property, allowing for a potential of a 21 acre opportunity site. The goal of the Main & Archer TIF district is to utilize a high visibility location that has a healthy flow of traffic on a daily basis (43,000+ vehicles per day) to stimulate the local economy. This can be achieved through the use of the land for retail, restaurants, or office spaces. This location has recently been improved by IDOT in FY 2016, and features easy access to I-55, ensuring an optimal experience. The Village has issued a Request For Quotation (RFQ) for a development partner. +/- 2 acres have been allocated for storm water detention.