- Community Development
- Economic Development
- Programs & Incentives
Programs & Incentives
The City of Oak Forest is committed to the continued improvement and revitalization of its commercial corridors. The city's Community Development Department has information covering incentives offered not only by Oak Forest, but also those offered throughout Cook County.
Follow the links below to learn more about the Façade Assistance Program as well as the city's three Tax Increment Financing (TIF) Districts. For more information regarding available incentives, contact the Community Development Department at 708-687-4050.
Facade Assistance Program Resources
The Facade Assistance Program offers a level of assistance for non-retail and retail businesses to improve their visual aesthetics, landscaping and signage. The program is a matching grant program sponsored by the City of Oak Forest with the basic goal of making Oak Forest businesses look better and improve the overall appearance of our commercial corridors. A landlord or lessee may apply for matching funding. The applicant and landlord would be expected to each cover a minimum of 2/3 of the costs associated with renovation, while the City of Oak Forest would cover the remaining cost up to the maximum amount permitted under program guidelines. Also, a signed agreement between the city and the applicant must be completed for City Council to approve the grant.
For program information, review the grant guidelines.
Complete and submit the Facade Assistance Program application.
Tax Increment Financing Districts
Tax Increment Financing or "TIF" is a financial and economic development tool that is used to assist a municipality in the redevelopment of a specific area that is blighted or showing signs of becoming blighted. Tax increment is defined as the difference between the amount of property tax revenue generated before the TIF district designation, and the amount of property tax revenue generated after TIF designation. A TIF redevelopment project increases development and redevelopment in that area, such that when the TIF project ends — and Illinois law allows a TIF project to exist for a period of up to 23 years, unless extended by a municipality — all of the taxing bodies benefit from the new growth. Only property taxes generated by the incremental increase in value of TIF district, are available for TIF eligible projects. Tax rates do not change when a TIF is created. TIF districts do not increase taxes.
View TIF Districts in the City of Oak Forest.