The Village of Roselle has established the use of tax increment financing (TIF) as a strategic tool in its economic development program. The use of TIF is intended to foster development and redevelopment in areas of the community where public incentives are necessary to supplement private investment.
Three TIF districts have been established within the Village to achieve this goal. Each TIF District has unique needs which are identified within planning studies that formed the feasibility and redevelopment plans for each.
The use of incentives is intended to fund projects that would not happen without such assistance. Thus, the use of incentives is not to be considered an entitlement, but a means of creating opportunities that will add value to the community. TIF incentives may be considered for commercial, industrial, and mixed-use projects within the three established districts. Stand alone multi-family projects may be considered within the Town Center only.
