It is a financing tool communities can use to assist, to create and retain existing and new businesses, residential and commercial areas in your town.
What it Means
You can apply for funds to acquire property, pay for engineering fees, purchase equipment, upgrade your building or equipment or many other business related items. TIF cannot help pay for building a new building or pay salaries.
How it Works
There are different ways to apply for loans or for grants. There are many ways to repay these loans and how to apply and receive a grant.
TIF money will only work for business (retail or commercial) or for residential projects that exist within the current TIF boundaries, see the Paxton TIF District Map (PDF).
Call 217-379-4022 to set up a confidential meeting.