Embedded Files
Sheridan Road TIF Redevelopment Project
Sheridan Road TIF Redevelopment Project
In its continued efforts to brand itself as a waterfront community, The Village created a new TIF District throughout the Sheridan Road Business corridor.
The Sheridan Road TIF Redevelopment Project encompasses the Village’s main commercial district. The Sheridan Road corridor is the entrance to the community at its northern border with the State of Wisconsin and its southern border with the City of Zion, IL. The 7th Street corridor is a gateway into the community for the Winthrop Harbor METRA Station and visitors of North Point Marina.
Illinois Enterprise Zone Program
Illinois Enterprise Zone Program
The Illinois Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas of the state through state and local tax incentives, regulatory relief, and improved governmental services. Businesses located or expanding in an Illinois enterprise zone may be eligible for the following state and local tax incentives:
• Exemption on retailers’ occupation tax paid on building materials
• Expanded state sales tax exemptions on purchases of personal property used or consumed in the manufacturing process or in the operation of a pollution control facility
• An exemption on the state utility tax for electricity and natural gas
• An exemption on the Illinois Commerce Commission’s administrative charge and telecommunication excise tax
• Enterprise Zone Construction Jobs Credits: Allows eligible project owners to deduct received tax credits from their taxable income
Page updated
Google Sites
Report abuse