The TIF Commercial and Industrial Rehabilitation Program assists building and business owners make investment in commercial and industrial spaces in select TIF Districts in the City of Rockford. The City will offer a percentage in matching funds up to $25,000 in assistance to property owners and/or tenants for permanent building improvements. Ideal projects add value and extend the longevity of the qualifying properties and make substantial or aesthetic improvements to the property. Deferred maintenance and improvements to become code compliant are allowed.
Program Overview
- A 50/50 match with the City of Rockford covering costs up to $25,000. The matching cost will be provided as a five-year forgivable loan.
- Available for commercial and industrial businesses (not available for residential or non-profits).
- Properties under a current TIF agreement are not applicable.
- Available on a first-come, first-serve basis (for projects that meet the qualifications) until the allocated funds are exhausted.
- Formal application is required for funding which includes details of the project, cost estimates, proof of funds, lease agreements, and more.
- Improvements made by the projects must be maintained during the duration of the five-year forgivable loan (matching funds) from the City of Rockford.
- TIFs included in the program are: Auburn St TIF, Broadway TIF, East River TIF, E State and Alpine TIF, E State and Mulford TIF, Midtown TIF, and N Main and Auburn St TIF. See maps of the boundaries for these TIF Districts below.
Complete program review is available in the TIF Commercial and Industrial Rehabilitation Program Guide.
For more information, contact Anna Garrison.
View the TIF Commercial and Industrial Rehabilitation Program Guide English (PDF).
View the TIF Commercial and Industrial Rehabilitation Program Guide Spanish (PDF).