Who is eligible to apply for TIF?
To be eligible for Tax Increment Financing assistance, the redevelopment project must: • Be located within a TIF District; • Be an industrial, commercial, or residential mixed-use property (with commercial on the ground floor). However, for all residential mixed-use projects receiving TIF funds, at least 20% of the residential units must be affordable to low- to moderate-income households; • Create or retain full-time permanent jobs in the City of Chicago; and • Not be economically or financially feasible or likely undertaken without TIF assistance. Projects involving the conveyance or lease of City-owned land will not be considered for TIF assistance under the streamlined application process. Projects involving the following types of businesses will not be permitted without the consent of DPD: fast-food chain restaurants; national chain businesses; branch banks; employment agencies; currency exchanges; payday loan stores; pawn shops; astrology and/or palm-reading establishments; liquo
