Palos Heights currently offers qualifying businesses three unique incentives: the Business Improvement Program, the Sign Grant Program, and Tax Increment Financing. Learn more about each incentive below.
Business Improvement Program
The Palos Heights Facade Improvement Program provides a financial incentive of up to $10,000 or 50% of a total project's cost (whichever is less) to property and business owners alike for significantly improving or reinvesting in the facade and exteriors of their commercial space. Since the program's inception in 2009, many businesses have benefited.
Sign Grant Program
The Palos Heights Sign Grant Program coincides with the Facade Improvement Program. We provide a financial incentive of up to $2,500 or 50% (whichever is less) of the total cost of wall signage and architecturally compatible sign lighting to property and business owners for significantly improving and upgrading their existing wall signage.
For Signage Design Guidelines examples, please review the City's Design Guidelines (PDF).
Tax Increment Financing
Tax Increment Financing (TIF) is an Illinois economic development tool to encourage private investment. TIF provides assistance to private investments within designated Redevelopment Project Areas. The assistance is used to stimulate economic development and redevelopment by reimbursing eligible redevelopment costs associated with site redevelopment and building renovations. TIF enhances the tax base of local governments to reduce tax burden on other properties within a community. TIF also retains and creates new jobs. The City of Palos Heights currently has two TIF Districts. The most recent is part of the Jewel-Osco Redevelopment at the southeast corner of S Harlem Avenue and 127th Street. The other is known as the Gateway TIF and can be found at the northwest and northeast corners of S Harlem Avenue and Route 83/College Drive.
Existing TIF Districts Map
- Harlem Avenue and 127th Street Project Boundary (PDF) and Aerial (PDF)
- Harlem Avenue and College Drive Project Boundary (PDF) and Aerial (PDF)