The Village is offering the Non-Tax Increment Financing Redevelopment Grant for Tinley Park properties that are unable to access existing funding opportunities such as the Oak Park Avenue Grant Program, TIF districts, Cook County Special Designated areas or other traditional incentive agreements.
The grant provides as much as $30,000 for the redevelopment of eligible sites through a 50/50 matching grant. Funding is available for permanent improvements that are fixed to the real estate, such as:
- Facade Improvements
- Code Compliance
- Stormwater Management
- Parking Lot Improvements
- Environmental Remediation
The Village is accepting applications. See the grant application for more information.
To be eligible to receive a grant, the property must be a tax-paying entity that isn’t already located in an area that’s currently eligible for an incentive. The property must also be in compliance with Village codes or ordinances upon completion of the project. Additional requirements include:
- The property owner can’t be overdue in any payments to the Village.
- The applicant must provide a detailed cost estimate of proposed work.
- The applicant must pay 100% of construction costs upfront before submitting for reimbursement.
A business plan may be required for start-up businesses.
To apply, submit a completed application (linked above) to the Community Development Department. Applicants are encouraged to meet with Community Development staff to discuss the feasibility of the proposal before submitting an application. After staff review, the application will be sent to the Economic and Commercial Commission, then to the Village Board for a public review. If approved, the Village Board will make a determination on the grant amount and authorize the execution of the program agreement. Grants will be paid on a reimbursement basis once the proposed project has been completed, all outstanding violations have been corrected, and receipts for eligible expenditures have been verified.
The Village is committed to assuring the long-term viability of the community by encouraging private investment in sites throughout Tinley Park that need significant redevelopment. Many of these sites do not fall within the existing Oak Park Avenue Grant Program, a TIF district, Cook County Special Designated area or meet other criteria to be eligible for traditional incentive agreements.
There are properties in Tinley where the costs to rehabilitate existing structures may be greater than the value of the structure or exceed the funding ability of the property owner. As such, property owners may lack the motivation to rehabilitate these sites due to the low rate of return on their investment. The Village’s Redevelopment Grant is a way to incentivize these properties and encourage site and building improvements that will enhance the overall aesthetics of the area for residents, as well as improve the property value and resulting Equalized Assessed Value (EAV) for the parcel.
Through this program, the Village hopes to achieve the following:
- Encourage investment and improvements to sites that might otherwise remain undeveloped, unoccupied or in a blighted condition if additional funding is not provided
- Encourage investment that will improve building safety and address building and fire code deficiencies
- Encourage distinctive architecture that conforms to the Village’s architectural and site guidelines
- Address existing flooding issues by encouraging improved storm water design
- Address existing environmental issues that require remediation in order to develop
- Improve economic value and viability which will result in increased property value
- Spur start-up, business attraction and expansion of sales-tax-producing businesses