Richton Park currently has four Tax Increment Financing (TIF) Districts, covering most of its commercial development areas. TIFs are an economic development tool that helps communities create momentum for development, job growth, and new construction opportunities.
The TIF districts in Richton Park cover many types of development opportunities. The Governors / Sauk TIF District includes Richton Park's Town Center Plan where mixed-use and transit oriented development projects are planned. The Governors Highway TIF District covers a prime location for the redevelopment of a retail corridor. The Lakewood TIF District offers land development opportunities for retail, medical/office and light industrial projects. The Bohlman TIF District focuses on one of the village's industrial development areas.
More Information For additional information about Richton Park's TIF Districts and how they can assist new development, either contact us at (708) 753-8820 or visit the Illinois Tax Increment Association website.