Technical Assistance

Date this page was last edited 01/24/2006

Southwestern Illinois Development Authority

TECHNICAL ASSISTANCE

SWIDA provides expert advice & guidance on a variety of economic development issues including establishing TIF Districts and Enterprise Zones. SWIDA will assist developers, business owners, and municipalities with preparation of financing packages including grant applications and administration.

REDUCED-INTEREST RATE FINANCINGVarious county & state agencies offer reduced-interest rate financing. SWIDA can help determine which are best for your development and formulate a financing package to fund your project.

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TAX INCREMENT FINANCING (TIF)

TIF is an economic development tool available to Illinois municipalities that can help to finance eligible improvements in designated redevelopment areas using new tax revenues created from the completion of a project. The purpose of TIF is to catalyze private development in blighted or conservation areas. Eligible costs include:

property acquisition (including site preparation)
remodeling of existing structures
infrastructure extensions or improvements
surveys and studies (architectural, financial, legal, etc.)
other developer assistance.

SWIDA can work with you to use TIF to your best advantage.

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ENTERPRISE ZONES (EZ)Of seven Southwestern Illinois Enterprise Zones (EZs), SWIDA created three.

EZs provide development incentives which include:

property tax abatements,

tax credits, and

tax exemptions

When TIF districts and EZs overlap their benefits combine!

SWIDA can help maximize your incentive package.

For more information contact - info@swida.org

Or call (618) 345-3400 today.

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