Development

The Village has a full array of development tools to assist in the construction of new retail and commercial buildings, including but not limited to, the following:

  • Tax Increment Financing - Under the terms of redevelopment agreements, multi-year property tax rebates are available for a wide range of eligible expenses, including land acquisition, site improvements, infrastructure and interest expenses.
  • Enterprise Zones - Enterprise Zone benefits include waiver of building permit, exemption from sales taxes on materials used in construction and various investment tax credits.
  • Sales Tax Sharing - Under terms of redevelopment agreements, multi-year sale tax sharing plans will be considered.
  • Fast Tracking Plans - The Village's Building Department will work with developers on the fast tracking of site plans and construction plans to ensure timely approvals of development initiatives.