Tax Increment Financing utilizes incremental property taxes attributable to new growth as a way to incent private
investment, and to finance needed public improvements. Accordingly, the City of Kankakee is in the process of
creating new Tax Increment Financing Districts.
The Kankakee Riverfront TIF is intended to assist in the implementation of the recently adopted Kankakee Riverfront Plan, to incent private investment on key properties, and provide resources for repair and renovation of existing business and homes.
The Shoppes at Meadowview TIF is intended to incent private investment in new and the renovation/rehabilitation of existing commercial and office buildings near the corner of Kennedy Drive (Routes 45/52) and Brookmont Blvd.Over 34,000 vehicles a day utilize this intersection.
308 Riverstone TIF is TIF is intended to incent private investment in new and the renovation/rehabilitation of existing commercial and office buildings, development of highway related logistics and retail development, and allow for the installation of new welcoming and wayfinding signs at the 308 exit.