Downtown Mokena TIF District

Tax Increment Finance (TIF) District

The Downtown Mokena TIF District was established by the Village to use as a tool to promote private development in the Downtown area.

A TIF works by freezing the tax base of the properties in the TIF district.  The taxing districts continue to receive that tax base from the properties in the district.  However, when value is added to a property in the TIF district and the EAV (Equalized Assessed Valuation) increases, the increase in the tax base is used to incent projects in the district rather than the increase going to the taxing districts.

Not all projects in the TIF district will qualify for this incentive and all projects are evaluated on a case by case basis.

Some of the TIF-eligible costs are:

  • Rehab and renovation of private and public buildings
  • Property acquisition
  • Financing costs
  • Professional services, ie. Architects, Engineering and Legal
For a complete list of all eligible costs associated with Mokena's Downtown TIF District and to see if your project may qualify please contact the Director of Economic and Community Development, Alan Zordan at (708) 479-3930.
 

 

Building Permit Soft Cost Discounts

Discounts are designed to assist with the cost of general building improvements on structures in Mokena's downtown area.

  • 100% discount for remodeling an existing building or tenant space
  • 90% discount for new commercial or office buildings
  • 80% discount for new mixed-use buildings under 10,000 square feet in size
  • 60% discount for new mixed-use buildings
    Contact
    Alan Zordan,
    Economic & Community Development Director
    Email

    Phone: (708) 479-3930
    Fax: (708) 479-1137

    Hours
    8:30 am - 5:00 pm
    Monday - Friday
     
     
     
     

     
    Village of Mokena | 11004 Carpenter Street Mokena, IL 60448
    Phone: (708) 479-3900  |  Fax: (708) 479-4844
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