Tax Increment Financing (TIF) is a tool used by municipalities to help facilitate economic development within a defined area. TIF allocates future increases in property taxes over an established base year to pay for improvements within that area. The TIF typically lasts for 23 years. The Village of River Forest is willing to consider requests for TIF funding provided adequate justification is demonstrated to warrant such funding and the proposed use is consistent with the stated development goals of the Village. The River Forest TIF District will expire on December 15, 2010 and any obligations of TIF related assistance must be executed prior to the expiration date.
