Financial Assistance
Village Assistance
- Tax Increment Financing (TIF) - TIF is available for those seeking to redevelop a site. It works on the basic principle that the redevelopment creates new tax revenue as property values rise. The additional revenues are retained within a defined district for a limited period of time to help pay for project costs within that district.
- Facade Grant Program - The Facade Grant Program was designed to incentivize Fox River Grove businesses to make improvements to the exterior of their building and surrounding area. This cost sharing facade improvement program can contribute substantial funds towards the costs of such improvements.
- Business Capital Assistance Program (BCAP) - The Business Capital Assistance Program was designed to encourage the recruitment and establishment of businesses within the Village. Additional businesses in Fox River Grove will help promote customer traffic for existing businesses, expand the offering of goods and services available locally, and create an environment to better position all businesses to see a return on investment.
- Business District - Similar to a TIF district, tax revenues generated within a defined boundary may be retained to pay for project costs within that district. Please contact the Village Hall at 847-639-3170 for more information.
State Assistance
- State Incentives & Programs - The State of Illinois provides several incentives and programs available ranging from loans to tax credits to grants.