TIF Funds

The Village has used TIF funds to assist with several redevelopment projects in our downtown area. The public parking garages across from Dunton Tower and across from 200 N. Arlington were built and paid for by the Village to provide parking for commuters, shoppers, employees, and for residents of the two buildings. The Village is paying for the garages form the incremental property taxes generated by the property owners in the TIF district. TIF funds have been used to assist in land acquisition and land cost write-downs for Dunton Tower, 200 Arlington Place and Towne Place (201 N. Vail).

This is a common practice in TIF districts not only in Arlington Heights, but other municipalities as well. The incremental tax dollars have also been used for the streetscape program, which includes brick paver sidewalks, trees, decorative benches, and street paving. The Village has also established a Façade Improvement program, whereby TIF funds are used to assist small businesses and property owners with rehabilitation of their storefront facades. This program has been instrumental in preserving the older building facades, which add to the character of the downtown.