The Village of Bourbonnais is poised and prepared to grow with the largest commercial and industrial companies needing plentiful land, a diverse and skilled workforce and a government that is ready and willing to reinvest in their land area. The Village also had the foresight to prepare a large land area straddling Interstate 57, from Route 45 on the west to Route 50 on the east, and enter into an industrial Tax Increment Financing District of over 1400 acres. This Industrial TIF District is dedicated to providing quality jobs for the area with reasonable incomes to support the numerous retail opportunities that will also arise with growth.
‘DIG Bourbonnais’ for Development:
In February 2006, the Village developed an Industrial TIF area consisting of 1,465 acres. The Village annexed and zoned all of the land within the TIF for Industrial Use as M-1 and M-2 Zoning. The life of the industrial TIF is 23 years, which means it is in effect until 2029. The proposed Area consists of vacant land suitable for use as an industrial park, and all properties within the Area is zoned Industrial.
The Village of Bourbonnais has determined that it is appropriate to provide limited financial incentives for private investment with the Redevelopment Project Area. This will enable the Village to finance the necessary infrastructure to support private development.
Future private development will be consistent with industrial and commercial buildings and/or other uses permitted under the M-1 and/or M-2 industrial zoning classification. These activities will provide employment opportunities for the construction industry, as well as permanent jobs.
Public improvements and support activities will be used to induce and complement private investment. These may include, but are not limited to: street improvements, construction of the I-57 Bourbonnais Parkway Interchange, land assembly and site preparation, public utilities, traffic signalization, market of property and interest subsidies, as well as other programs of financial assistance may be provided by the Village.