Tax Increment Financing (TIF) & Other Incentives

The City of O’Fallon’s incentive policy is to assist in attracting and retaining high quality development and businesses that are compatible with the long-range vision of the City and its residents.

The City of O'Fallon may, at its discretion, provide financial or inkind assistance to new or existing commercial, industrial, or institutional development. Combining federal, state, and local programs, leaders of O’Fallon are committed to providing cost-saving incentives to financially-strong companies that add value to the community. Incentive packages are company and location-specific, and may include property tax abatements, sales tax refunds, tax increment financing, low-cost financing programs, infrastructure improvements and utility cost reductions. Consideration is given to firms that:

  • Provide above-average wages and full benefits to their employees
  • Provide significant enhancement to the community.
  • Provide additional tax revenue to the community

See below for details of existing districts with incentives and local resources for financing and state or federal incentives.

Tax Increment Financing

Name
Description

Central City TIF

Approved in June 2015, the Central City TIF area generally includes the downtown area and the commercial area extending along West State Street, plus the South Lincoln Avenue corridor, from downtown to the commercial area at South Lincoln and East Highway 50.  The Central City Redevelopment Project Area is intended to induce development interest within this area and make  improvements to public infrastructure.

Click here for an FAQ about the Central City TIF

Route 50 / Scott-Troy Road TIF

Approved in April 2015, the Route 50/Scott-Troy Road TIF was created to support the proposed development known as "Four Points Center", which will include a recreational facility named "The McKendree Metro Rec Plex" and will serve as the home ice for The Southern Illinois IceHawks.  The TIF district is approximately 47 acres located at the northwest corner of US East Highway 50 and Scott-Troy Road.

Approved in 2012, this TIF is over 145 acres in size and includes 23 developable parcels. The district runs along Interstate 64 and Central Park Drive. Menards has since closed on an 18 acre parcel within the TIF district and completed construction on its 200,000 sf store in the Spring of 2013.
This TIF district is 148 acres bounded approximately by Green Mount Road, Highway 50 and Interstate 64. The plan was approved in 2011 concurrently with the rezoning of 113 acres of land for the Hospital Sisters Health Systems development for a future medical facility and medical office buildings.
The Rasp Farm TIF district is 101 acres and stretches from Lincoln Avenue, east along Interstate 64, and up to the Main Street/Highway 50 intersection. In 2010, this area was created as an expansion to the existing Illinois 158 Corridor TIF. The Rasp Farm TIF contains the Lincoln Corporate Center and a large public drainage project.

Illinois 158 Corridor TIF

The Illinois 158 Corridor TIF (aka O'Fallon TIF #1) was initially created in 1995 and covers approximately 475 acres of land along Route 158/Scott Troy Road. This TIF district spurred the development of Williamsburg Center (a nine building office park) and Lakepointe Centre (an office park and retail/service center). The boundaries were modified slightly in April 2015 to remove about 47 acres of land from the district.
Enterprise Zones are among Illinois' most important tools to stimulate economic growth and neighborhood revitalization. Local incentives include abatement of property taxes on new improvements, homesteading and shopsteading programs, waiver of business licensing and permit fees, streamlined building code and zoning requirements, and special local financing programs and resources.

 

State Reporting

Municipalites using TIF are required to file reports annually with the State of Illinois Comptroller. Copies of the most recent reports are found below.

Fiscal Year 2010    Route 158/Rasp Farm

Fiscal Year 2011    Route 158/Rasp Farm

Fiscal Year 2012    Route 158/Rasp Farm    Green Mount Medical Campus

Fiscal Year 2013    Route 158/Rasp Farm    Green Mount Medical Campus    Central Park

Fiscal Year 2014    Route 158/Rasp Farm    Green Mount Medical Campus    Central Park

Fiscal Year 2015    Route 158/Rasp Farm    Green Mount Medical Campus    Central Park    Route 50/Scott Troy Road

Fiscal Year 2016    Route 158/Rasp Farm    Green Mount Medical Campus    Central Park    Route 50/Scott Troy Road    Central City

Financing

Name
Description
City of O'Fallon Incentive Policy
U.S. Small Business Administration