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Aurora, IL Economic Development

TIF Districts

TIF districts are created to assist in the redevelopment of distressed and blighted areas. As improvements are made to an area and the value of that area increases, the incremental property tax can be used for public improvements or rebated to developers to incentivize additional development. Aurora currently has seven active TIF districts:

TIF #1 is commonly known as the Downtown TIF. It was created in 1986 and received a twelve year extension in 2009. TIF #1 will expire in 2022.

TIF #2 expired in 2012.

TIF#3 is commonly known as the River City TIF. It was created in 2000 and will expire in 2023.

TIF #4 is commonly known as the Bell-Gale, an industrial park. It was created in 2005 and will expire in 2028.

TIF #5 is commonly known as the West River TIF which encompasses Lake Street retail corridor. It was created in 2007 and will expire in 2030.

TIF #6 is commonly known as the East River TIF which encompasses the Route 25 corridor. It was also created in 2007 and will expire in 2030.

TIF #7 is commonly known as the West Farnsworth TIF. It was created in 2011 and will expire in 2034.

TIF #8 is commonly known as the East Farnsworth TIF. It was created in 2011 and will expire in 2034.

 

TIF MAP

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