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Tax Increment Financing

Tax Increment Financing

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Tax Increment Financing District Establishment

Moran Economic Development has established and administered tax increment financing (TIF) districts in many communities throughout the State of Illinois.  We are proud of the TIF success stories we’ve helped create for our clients. 

Why should you select Moran Economic Development as your economic development consultant?   We offer our clients the best value and service through our commitment to the following:

Honesty and Integrity: We are honest, hard working folks who tell the truth about the process. 

Dedicated Customer Service: This is our hallmark.  We take phone calls even after business hours to help answer questions regarding TIF.  We understand that as  community leaders, your jobs extend into the evening, and our job is to be there when you need us.  There’s no question that’s too simple or complex to address when our clients need answers.

Proven Experience: We have established Tax Increment Financing Districts for projects ranging in size from $3,000,000 to $50,000,000. 

Outstanding References: Every client we have ever worked with is our reference.  Refer to our project experience page for more information about the communities we have served.

Values: We are from Illinois and care about what happens here.  What is good for Illinois is good for us both personally and professionally.  We understand Illinois and the economic development challenges our clients face.

Affordability: We work hourly, by retainer or a set fee.  We can establish a variety of payment structures to suit your needs.

Intelligence: Having worked hundreds of projects in every industry sector, we’ve figured out a few things along the way.  From understanding the School State Aid Formula to complex annexation, zoning and land use issues, we’re confident in our knowledge and ability to do our jobs exceedingly well.

Fun: We understand that TIF is serious business, and when it comes down to it, we are serious about this business.  However, we love what we do, and it shows.

For a list of recent projects, please refer to our Project Experience page.


Administration of Tax Increment Financing Areas

Moran Economic Development provides tax increment financing consulting services to many communities after a tax increment financing area has been established.  We strive to build relationships within the communities we serve - relationships that allow the community to maximize the potential of development areas by effectively administering and utilizing the Illinois TIF program.

  • Creation of Marketing Packets – Moran Economic Development will consolidate any existing community data and mapping and produce new, relevant information into a succinct marketing packet which could be used by the community to generate development interest in TIF properties.
  • Annual Reporting – Moran Economic Development will assist the community in submitting its annual Tax Increment Financing Report to the State of Illinois.
  • Negotiations with Developers – Moran Economic Development will conduct negotiations with interested developers over tax increment financing assistance, as well as review existing redevelopment proposals.
  • Business Recruitment – Because Moran Economic Development works with developers and businesses, we will market your area to prospective or existing businesses that are considering location or expansion in your area.  We will assist and prepare site search proposals for national and statewide site consultants interested in your community.
  • Redevelopment Agreements – Moran Economic Development will create redevelopment agreements for development projects and assist the community in creating such agreements in the framework of the Illinois TIF Act.
  • Financial Feasibility Analysis – Moran Economic Development will create revenue generation charts to determine how much financial benefit would accrue from a new development or redevelopment project.
  • Continuing Education – Moran Economic Development believes that in order for communities to successfully redevelop their project areas, it is important to understand how best to utilize TIF dollars.  Moran Economic Development provides ongoing technical support and education to communities that need help in the daily administration of tax increment financing.  This is usually done as a courtesy.


Business District Establishment

A newly created economic development tool that is available to municipalities in Illinois is the Business District Development and Redevelopment Law.   A Business District is created to impose an additional sales tax, designed to fund the development or redevelopment of certain designated blighted areas within a municipality.  This is generally done to assist in improvements of public infrastructure necessary for commercial development projects.

To get a basic understanding of how this tool works, it is important to understand sales tax.  Generally speaking, the base sales tax rate for communities is 6.25%.  The State of Illinois captures 5%, the County captures .25% and the community captures 1% of all sales.  Under the Business District Law, communities can impose an additional sales tax in .25% increments up to 1% within a defined area.  Thus, the community can increase the sales tax up to 7.25%, or 1% more than the normal tax rate.  That 1% can be used to rebate a developer for eligible development costs, including infrastructure improvements, or it can be captured by the community and utilized in other parts of the Business District Area.

To establish a Business District, the Area must be blighted and findings must be made similar to a TIF District to support the blight analysis.  However, because we are dealing with sales tax and not property taxes (as in a TIF) there is rarely an instance where other taxing districts are impacted in any way.

Business Districts generally work well along interstate highways and in some cases, downtown areas.  The focus should be on areas where the main shoppers come from areas outside of the community or areas where deterioration in a formerly vibrant retail area has kept the area from growing.

In the end, the use of the Business District has given numerous Illinois communities the opportunity to generate additional revenues and to secure new retail development that would not have occurred without the Business District.