TIF Districts

 

The City of Mattoon recognizes that its long-term viability depends, in part on maintaining the strength of its commercial base. In order to facilitate commercial development and the expansion of Mattoon’s retail and commercial base, the city of Mattoon has developed a number of TIF Districts.

There are several forms of assistance and incentives for business within the city’s TIF Districts. These funds are to be used for Redevelopment Project Costs (RPC’s) which include all reasonable or necessary cost incurred or estimated to be incurred incidental to a redevelopment plan or project.

Example of eligible Project Costs would be

  1. Costs of studies, surveys, professional fees for architectural, engineering, legal or financial services rendered incidental to the redevelopment project.
  2. Property assembly costs, including but not limited to the acquisition of land and other property, real or personal, demolition of buildings, and the clearing and grading of land.
  3. Cost of rehabilitation, reconstruction, or repair or remodeling of existing public or private buildings and fixtures.
  4. Cost of construction of public works or improvements
  5. Cost of job training and retraining projects

Types of Assistance

Grants

The City of Mattoon offers TIF & BD grants for certain projects. These grants are generally paid on a reimbursement basis or directly to a vendor or contractor for products or services already delivered and are not generally given to a redeveloper in advance.

Architectural Assistance

The City may provide assistance in the form of an initial architectural or structural analysis of a proposed redevelopment project for the purpose of determining general or structural feasibility, developing a preliminary scope of work and cost estimates.

Timeline

Grant applications are due February 28th of each year for the subsequent Fiscal Year beginning May 1st. The Annual amount of grant funds is estimated to be approximately $110,000.

Eligible Project Cost

  1. Costs of Studies, Surveys, professional fees for architectural engineering, legal, or financial services rendered incidental to the redevelopment project.
  2. Property assembly costs, including but not limited to acquisition of land and other property, real or personal, demolition of buildings, and the clearing and grading of land.
  3. Cost of rehabilitation, reconstruction, or repair or remodeling of existing public or private buildings and fixtures.
  4. Cost of construction of public works or improvements
  5. Cost of job training the retraining projects
  6. All or a portion of a taxing district’s capital cost resulting from the redevelopment project incurred or to be incurred in furtherance of the objectives of the Redevelopment Plan and Project, to the extent the City, by written agreement, accepts and approves such costs.
  7. Interest cost incurred by a redeveloper related to the construction, renovation or rehabilitation of a redevelopment project provided that such subsidy does not exceed 30% of the annual interest cost incurred by the TIF project redeveloper.

** TIF funds are specifically excluded in the cost of construction of new, privately owned buildings, as they are not an eligible RPC. It is further not the intent of the TIF to be used for inventory, general operating or maintenance costs of a business.

Grant Limits

  1. Facade restoration grants may be made for up to 90% of the eligible facade restoration costs not to exceed $40,000.
  2. Emergency Structural repair grants may be made for up to 75% of the eligible redevelopment costs, not to exceed $40,000
  3. Emergency structural repair grants may be made for up to 75% of the eligible redevelopment costs, not to exceed $40,000
  4. Code compliance grants may be made for up to 50% of the eligible redevelopment costs, not to exceed $40,000
  5. Anyone project may qualify for TIF grants under multiple categories, but not to exceed $80,000 per project.

Here you will find more information about each TIF.

Broadway East TIF

Interstate 57 TIF

Midtown TIF

South Route 45 TIF

Each TIF district is in a unique location. Check out each one and see which location is a good fit to relocate or start your business.

Here you will find a Zoning Map of Mattoon.

Contact the City of Mattoon for any questions you may have.