Overview of Alton’s Tax Increment Financing (TIF) Districts
In 1994, the City of Alton created the Riverfront Tax Increment Financing District (TIF 1). In January 2010, the City of Alton created the Hunterstown Tax Increment Financing District (TIF 2). TIF funds can be used for such items as infrastructure improvements, land acquisition, site clearance and preparation, revolving loans and interest subsidies, building rehabilitation, and professional services. Potential projects are considered by the Department on a case-by-case basis, with ultimate approval being required by the Mayor and City Council. For an explanation of how a TIF works, please click here. To view a copy of the TIF Grant Application, please click on the link at the bottom of the page. To view a copy of the Residential TIF Grant Application, please click on the link on the bottom of the page. To view a map of the Riverfront TIF District, please click here. To view a map of the Hunterstown TIF District, please click here. Please be advised that these are large documents and may take a moment to download.
Specific recent projects include renovating a building for the Simmons Law Firm and working with St. Anthony’s Health Center and the Greater Alton Community Development Corporation to construct two single-family units on Fourth Street
History of The Hunterstown TIF
On July 22, 2009, the Alton City Council adopted a resolution stating the City’s intent to prepare a Tax Increment Financing (TIF) District for a portion of the City of Alton. This page has been created to keep the public informed of the process. Interested parties can review the plan, entitled “Tax Increment Financing Redevelopment Plan & Project Hunters Town Project Redevelopment Area,” by clicking the link at the bottom of the page. This plan was written by PGAV Urban Consulting. Also, please be advised that this is a large document and may take a moment to load.
A public hearing on this proposed TIF District was held on January 13, 2010, at 7:30 P.M., in the City Council Chambers, in City Hall.
TIF Meeting information
Interested residents and organizations that do NOT live in the TIF areas, but would like notice of future meetings, can complete a TIF Interested Parties Registration Application Form. This Form can be downloaded by clicking here. A completed Form should be mailed to TIF Interested Parties Registry, City Clerk’s Office, 101 E Third Street, Alton, IL 62002. Individuals are required to supply some proof of residency. Organizations are required to supply a one-page statement describing their current operations in Alton.
For more information on TIF, please contact the Department of Development and Housing.