Illinois Redevelopment Programs

REDEVELOPMENT PROGRAMS

Redevelopment programs provide incentives for various types of repair, remodeling, and restortation of land, buildings, and areas. Information on key programs is provided below.

Illinois Enterprise Zone Program

Common Name: Enterprise Zone (“EZ”)

Statutory Citation: 65 ILCS 5/8-11-1, 35 ILCS 120/1, 35 ILCS 115/1

Type of Benefits: The Enterprise Zone Program is designed to stimulate economic growth and neighborhood revitalization in economically depressed areas in Illinois.

Description of Benefits: Businesses located (or those that choose to locate) in a designated enterprise zone can become eligible to obtain special state and local tax incentives, regulatory relief, and improved governmental services, thus providing an economic stimulus to an area that might otherwise be neglected.

Eligible Business Types: All.

Available Zone Map:
Illinois Enterprise Zones

Links:
Click here for program detail
Click here for program summary
Statutes: http://www.ilga.gov/legislation
Illinois Department of Commerce and Economic Opportunity (DCEO): http://www.illinoisbiz.biz

Community Development Assistance Program

Common Name: CDAP

Statutory Citation: 20ILCS 605/605-30

Type of Benefits: Redevelopment.

Description of Benefits: The program is targeted to assist low-to-moderate income people by creating job opportunities and improving the quality of their living environment. Grants are made to units of local government to help them in financing economic development projects, public facilities and housing rehabilitation.

Eligible Business Types: Units of general local government such as cities, villages, townships and counties may apply for funding.

Links:
Click here for program detail
Click here for program summary
Statutes: www.ilga.gov/legislation
Illinois Department of Commerce and Economic Opportunity (DCEO): http://www.illinoisbiz.biz