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About Richton Park TIF Districts
Richton Park has five 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.
The TIF districts in Richton Park cover many types of development opportunities. The Governors / Sauk TIF District covers Richton Park's Town Center, where mixed-use transit oriented development projects are planned. The Governors Highway TIF District covers a prime spot for the redevelopment of a community shopping center. The Crossings TIF is one of the village's older TIF districts and has helped to bring about new shopping and class A office development. The Lakewood TIF offers development opportunities including greenfield highway retail development, shopping center redevelopment, and light industrial space. The Bohlman TIF district focuses on one of the village's industrial development areas.
For information about TIF Districts, and how they can assist new development, visit the Illinois Tax Increment Association