The City of McLeansboro offers assistance through Tax Increment Financing (TIF). The TIF District encompasses much of the City and will help spark many economic development projects throughout our town.
Tax Increment Financing is a development tool designed to help finance certain eligible improvements to property in designated redevelopment areas (TIF districts) by utilizing the new, or incremental, tax revenues generated by the project after completion.
It is the policy of the City to consider the judicious use of TIF for those projects which demonstrate a substantial and significant public benefit by constructing public improvements in support of developments that:
- Create Jobs
- Retain Jobs
- Eliminate Blight
- Strengthen the economic base of the City
- Increase property values and tax revenues
- Create economic stability
- Upgrade existing neighborhoods and commercial/industrial areas