A TIF District is a redevelopment tool which, at the time a district is created, establishes a "base" assessed value of the real estate contained within the district. As redevelopments occur within the district, property values increase. The difference, or gap, between the base value and the increased value is called the "increment." The tax revenue collected on the "increment" is held in a special fund by the City. These funds can then be used for a variety of improvements within the District, subject to Illinois TIF statutes.

The City of Collinsville has three active TIF Districts:

TIF 3:
Created in 2003, TIF 3 encompasses approximately 66 acres and is located in the northeast quadrant of Interstate 255 and 55/70.

Southwest TIF:
Created in 2016, the Southwest TIF is approximately 857 acres and generally includes St. Louis Road, Collinsville Road, and Bluff Road commercial corridors from Fanduel Racetrack to the west of Jefferson Avenue on the east and along Bluff Road north to Interstate 55/70.

I-255/Horseshoe Lake Road TIF:
Created in 2008, the I-255/Horseshoe Lake Road TIF is located in the northwest quadrant of the I-55/255 corridor, bounded by the Interstates to the south and east, Horseshoe Lake Road to the north, and Cahokia Creek to the west.

 

A Business District is an incentive tool that places an additional sales tax (1% in Collinsville) on certain retail sales that occur at businesses located within the District. The additional tax revenue collected is held in a special fund by the City. These funds can then be used for a variety of improvements within the District, subject to Illinois Business District statutes.

The City of Collinsville has three Business Districts:

Northeast Business District (NEBD):
The NEBD is located along Beltline Road & Vandalia Street. It is home to major retailers including Schnucks, Kohls, Starbucks, Ford Auto Sales, and many local restaurants, offices, and services. July 2024, the City approved a NEBD Improvement Grant program to encourage redevelopment of the NEBD through incentivizing certain exterior improvements of commercial properties located within the NEBD. Click here to access the NEBD Improvement Grant Application and adopting ordinance.

Southwest Business District:
Also referred to as The St. Louis/Collinsville Road Corridor, this business district is generally described as being from the Fairmount Race track on the west to the intersection of Main Street and Hesperia Street on the east and the IL 157 (Bluff Road) Corridor from its intersection with St. Louis Road on the south to I-55/70 on the north.

Fournie Lane/Horseshoe Lake Road Business District:
It includes the land that extend into the I-255/Horseshoe Lake Road Redevelopment Project Area.

An Enterprise Zone is an financial tool that offers a variety of  incentive opportunities for commercial developments within a designated Zone. Portions of the City of Collinsville are located within the Madison County Discovery Enterprise Zone. The Madison County Discovery Enterprise Zone is in effect until December 31, 2030.

Through Madison County, eligible commercial projects may receive sales tax exemptions, investment tax credits, machinery and equipment tax exemptions, and utility tax exemptions. To learn more about these opportunities, please visit the Madison County Community Development website or contact Holly Klausing at (618) 296-4247.

In addition to the above mentioned incentive opportunities, the City of Collinsville does consider the abatement of the City's portion of ad valorem real estate taxes on a case-by-case basis. To learn more, or to apply for consideration of real estate tax abatement, please see the Discovery Enterprise Zone Tax Abatement Application.

Commercial Property Assessed Clean Energy (C-PACE) is a tool that provides fixed-rate, long-term financing for energy efficient improvements, such as HVAC upgrades, new fixtures, solar, EV charging stations and more in commercial buildings. Through C-PACE, qualifying improvements are financed by placing a special assessment on the property. Repayments of the loan are made through paying the special assessment on the commercial real estate tax bill.

On June 11, 2024, the City of Collinsville joined the State of Illinois C-PACE program, which allows commercial property owners and developers in Collinsville to apply for C-PACE financing. For more information, please visit https://www.il-fa.com/programs/c-pace or contact Jessica Short, Assistant City Manager/Economic Development Manager.