Ad Hoc Economic Development Committee
Regular MeetingNorthbrook, IL · October 25, 2011
Minutes
1 APPROVED
2 MINUTES OF A MEETING OF THE
3 AD HOC ECONOMIC DEVELOPMENT COMMITTEE
4 VILLAGE OF NORTHBROOK
5 COOK COUNTY, ILLINOIS
6 October 25, 2011
7
8 The meeting was called to order in the Terrace Room of the Village Hall at 6:30 PM. On roll call, present
9 were: Chairman Heller, Trustee Scolaro and Trustee Ciesla; also present: President Frum, Trustee Israel.
10 Ex Officio Members: Tensley Garris, Northbrook Chamber of Commerce; J. Kahan; Ed Feld, School
11 District No. 27; Hillarie Siena, Finance Director of District 225; D. Schoon, Economic Development
12 Coordinator.
13
14 Hear from the Audience
15
16 No comments submitted.
17
18 Review of Economic Development Tools
19
20 Mr. Schoon stated the Village Board formed the Ad Hoc Economic Development Committee after the
21 Board’s consideration of the MicroLink Devices request for a Class 6b property tax incentive for the
22 entire value of its property. During review, some of the taxing districts raised the question does the
23 Village have alternative tools available to provide financial incentives to industrial and commercial
24 businesses who would like to relocate to Northbrook. The taxing districts inquired if there was something
25 other than a Class 6b as they felt the relief requested by MicroLink was too significant. The Ad Hoc
26 Committee was formed to look at alternatives, to discuss how to use the 6b program and to study the
27 economic development incentives available to industrial and commercial businesses. He reminded the
28 Committee that the vision statement in the Village’s Strategic Plan for Economic Development states that
29 the Village will foster an attitude and processes that strives to maintain and enhance a diverse tax base of
30 retail, office and industrial businesses to ensure resources that will support a high quality of public
31 services for the community.
32
33 Mr. Schoon reviewed the Class 6b program, including the industrial/warehouse business tax savings
34 received under this Cook County program, the types of qualifying projects, and the definition of
35 abandoned property and the concept of “special circumstances”. Mr. Schoon stated that in addition to the
36 County’s criteria, the Village has additional guidelines when considering to support 6b applications,
37 which look at economic and fiscal impact of business on the community, conditions of existing building
38 and site and private financial contributions compared to public assistance, quality of jobs to be created
39 and environmental impact. He also noted that Northbrook has afforded the other taxing districts an
40 opportunity to review and comment on each Class 6b application.
41
42 Mr. Schoon noted there are six general areas by which a municipality can impact economic development
43 in the community:
44
45 Government attitude impacts what businesses and developers think of Northbrook as a place to conduct
46 business;
47
48 Regulations and review processes impact how easy it is to conduct business in the community. Recent
49 feedback from some businesses and developers has been that Northbrook is a challenging place to do
50 business and that the board lacks consistency on development issues
51
Minutes of the Ad Hoc Economic Development Committee
October 25, 2011
1 Trustee Ciesla inquired if that was the case because the Board is making economic changes. President
2 Frum stated she did not believe the Board has a good grasp of the economic situation and that the Board
3 does not understand how difficult it is to have projects come in and be developed during these times. The
4 Board should be consistent because people do not have an idea of how they are going to be presented to
5 the Board; they do not know how the Board is going to react, thus the developers question why they
6 should spend money in the Village.
7
8 During discussion, it was noted that the Board was very receptive to Caribou Coffee and Sherwin
9 Williams Paint Store. A question was raised as to why the Board welcomed similar types of businesses in
10 one location and not in another. Trustee Israel commented that he was surprised to hear the objections to
11 Dunkin Donuts which was a permitted use. He suggested that was another example of inconsistency on
12 behalf of the Board. Trustee Heller noted that the Board has always been extremely difficult on drive
13 through facilities and expressed the opinion that Northbrook has been consistent with drive throughs,
14 holding them to different standards. Ms. Garris expressed the opinion that the group should understand
15 that was not the perception. Mr. Kahan expressed the opinion that the perception is reality; developers
16 remember their experiences and may tell others about them. Trustee Heller commented that in some
17 ways the perception was 100% correct. In some ways, Northbrook does want to remain Northbrook and
18 it is tough when doing so. Mr. Schoon stated developers say it is okay to have tough rules, they just want
19 to know what they are so they have an idea of what to expect through the process.
20
21 Provision of adequate infrastructure – Business expect a certain minimum level of infrastructure such as
22 good roads, no flooding, reliable electricity, etc.
23
24 Targeted plans and programs can provide the business and development community a consistent idea of
25 the type of business and development activity the Village supports.
26
27 Marketing and outreach allows the Village to reach out to the business community to identify issues of
28 concern as well as promoting businesses such as through shop local programs.
29
30 Financial Incentives provide a financial tool to help make a business or development project happen that
31 benefits the community.
32
33
34 Review Financial Incentive Tools for Business Development
35
36 Mr. Schoon than reviewed the following financial tools available to municipalities to encourage business
37 development:
38
39 Cook County Property Tax Relief Programs – Class 6b (industrial), Class 7a & b (commercial), Class C
40 (for environmental remediation), and Class L (historic properties). It’s unlikely a property in Northbrook
41 could qualify for a 7a or 7b.
42
43 Tax Increment financing – the Village has one existing district at Dundee & Sanders and there had been
44 one established in the downtown that had been quickly repealed before tax increment financing was ever
45 used.
46
47 Property Tax Abatement – State law allows local taxing districts to abate property taxes for a project.
48 The tax abatement cannot exceed $4 million for all taxing districts, not to exceed 10 years and must be
49 approved by each taxing district desiring to participate. Crate and Barrel is the only example in
50 Northbrook
Minutes of the Ad Hoc Economic Development Committee
October 25, 2011
1
2 Sales Tax Rebate – Involves sharing of sales tax revenue between the Village and the business. There are
3 no specific eligibility criteria set by Illinois or the Village; it’s decided on a case by case basis. The
4 Village has one, which is with Foley Cadillac.
5
6 Business Districts Areas must be blighted as defined by State Code and would not be developed or
7 redeveloped without adoption of the business district plan. Improvements to be funded by imposing
8 additional sales tax or hotel tax on businesses within the designated area to pay for public infrastructure
9 improvements within the area. Redevelopment districts have been established in the downtown area and
10 along Skokie Boulevard, but without the business district funding mechanism.
11
12 Special Service Areas - allows a village to impose an ad valorem property tax on properties within a
13 designated area to pay for public improvements, marketing services and maintenance within the area. It
14 does not have to be blighted. Evanston and Highland Park have set up SSAs in their downtowns. They
15 can only be implemented if there is not a petition objecting to the creation of the SSA signed by 51% or
16 more of property owners or 51% or more of residents occupying the premises.
17
18 Other Forms of Assistance - include such items as grants and loans funded through municipal funding
19 sources may be used for infrastructure improvements including façade renovations, interior renovations,
20 underwriting land costs, rent subsidies, roads, sewers and water mains and streetscape improvements and
21 expedited permit review.
22
23 Class 6b Program and Establishing An Alternative Property Tax Abatement Program
24
25 Having reviewed all of the tools available, Committee members expressed the opinion that the Village
26 should consider the use of any of the financial incentive tools when their use may be appropriate. The
27 Committee then focused its discussion on the Class 6b program and establishing an alternative property
28 tax abatement program.
29
30 Mr. Schoon noted that in 2008, a subcommittee was formed to consider establishing an alternative to the
31 Class 6b program. The EDC submitted a recommendation to the Board regarding an alternate program.
32 The Village attorney had a concern that the incentive, as drafted, was not appropriate under Illinois law.
33 He suggested some changes including that each taxing district would have to approve granting the
34 incentive. The EDC decided not to pursue the establishment of the alternative program as they felt that it
35 was the same as considering a special abatement on a case by case manner.
36
37 Chairman Heller commented the Class 6b program guidelines appear to be sufficient. President Frum
38 commented that the ad hoc committee was formed because the Board was willing to go back and look at
39 the way the Class 6b is implemented and if there should be any changes. She inquired if there were any
40 other models or ways of offering incentives incurred under 6b and not for 12 years. She added the
41 Board’s interpretation of 6b has been effective, however, she inquired if it could be improved.
42
43 Committee members then held a general discussion regarding when the Class 6b incentive or the
44 alternative should be made available. Is it because the specific business needs the incentive to locate in a
45 particular building or is it because a specific building needs an incentive in order to get any business to
46 locate on it? Using recent projects that have requested the Class 6b (Nestle, MicroLink Devices, etc.)
47 and others that haven’t (the proposed asphalt plan), the Committee members discussed the various public
48 benefits to the community of each project and when is it appropriate for government to use Class 6b or an
49 alternative to influence decisions in the market place. Or should the marketplace through adjustment of
50 the price of the building decides whether a business occupies a property.
Minutes of the Ad Hoc Economic Development Committee
October 25, 2011
1
2 Mr. Schoon stated there are a number of vacant buildings located on Holste and inquired if the Village
3 needs to provide an incentive to encourage occupancy of the buildings. Trustee Ciesla inquired if there
4 were tax issues and why the properties were vacant; she suggested that if there are other issues, incentives
5 may not resolve the issues.
6
7 The Committee concluded that staff should look at refining the Class 6b guidelines, by looking at how to
8 incorporate such items as (a) requiring structural improvements be made to a building, (b) the positive
9 and negative environmental impacts of a business, (c) impact on local government services (d) quality and
10 # of jobs, and (e) impact on housing stock. What is the community’s return on investment for granting
11 the property tax relief.
12
13 The Committee also discussed establishing a number of different alternatives to the Class 6b program in
14 terms of granting property tax abatements (e.g. shorter period of time, different assessment rates, etc.).
15 The Committee discussed the challenges of establishing alternative property tax abatement programs
16 given that for each project, each taxing district would have to negotiate and agree to the specific terms.
17 The Committee also discussed having a number of different alternatives could be challenging to
18 implement both from a business’ perspective as well as the taxing districts’ perspectives. The Committee
19 directed staff to come back with one alternative property tax abatement program that would have its own
20 specific process but eligibility guidelines similar to the Class 6b.
21
22 Trustee Ciesla made a motion, seconded by Trustee Heller that the meeting be adjourned. On voice vote,
23 the motion was approved. There being no further business to transact and the meeting was adjourned at
24 8:45 PM.
25
26 Respectfully submitted,
27
28 /s/ Teresa J. Moll
29 Recorder
30
Agenda
AD HOC ECONOMIC DEVELOPMENT COMMITTEE
NORTHBROOK VILLAGE HALL, 1225 CEDAR LANE
OCTOBER 25, 2011, 6:30 P.M., TERRACE ROOM
The Ad Hoc Labor Relations Committee of the Village of Northbrook Board of Trustees will hold a
meeting on Tuesday, October 25, 2011 at 6:30 p.m. in the Terrace Room of the Village Hall, 1225
Cedar Lane, Northbrook, Illinois. The following will be discussed.
MEETING AGENDA
1. CALL TO ORDER
2. HEAR FROM THE AUDIENCE
3. REVIEW: Economic Development Tools Available to a Municipality, Including Financial
Incentives
4. DISCUSSION: Economic Development Financial Incentives Appropriate for the Village to Use
5. ADJOURN
Todd Heller, Chair
Ad Hoc Economic Development Committee
Members: Trustee Scolaro
Trustee Ciesla
Village of Northbrook
Cook County, Illinois
October 21, 2011
The Village of Northbrook is subject to the requirements of the Americans with Disabilities Act of 1990.
Individuals with disabilities who plan to attend this meeting and who require certain accommodations in
order to allow them to observe and/or participate in this meeting, or who have questions regarding the
accessibility of this meeting or the facilities, are requested to contact Greg Van Dahm or Debbie Ford (272‐
5050, extension 4225 or 4221, respectively) promptly to allow the Village of Northbrook to make reasonable
accommodations for those persons. Hearing impaired individuals may call the TDD number, 564‐8645, for
more information.
VILLAGE OF NORTHBROOK MEMORANDUM
DEVELOPMENT & PLANNING SERVICES
TO: AD HOC ECONOMIC DEVELOPMENT COMMITTEE
FROM: DAVID SCHOON, ECONOMIC DEVELOPMENT COORDINATOR
DATE: OCTOBER 21, 2011
SUBJECT: BUSINESS FINANCIAL ASSISTANCE TOOLS AVAILABLE TO MUNCIPALITIES
On October 25, 2011, the Ad Hoc Economic Development Committee will meet to review business financial
assistance tools available to municipalities and to discuss what incentives may be available as an alternative
to the Class 6b program. This memo provides the Committee with background information regarding the
Village’s previous efforts studying this issue as well as information regarding other available business
financial incentive tools.
BACKGROUND
Earlier this year, the Village Board formed the Ad Hoc Economic Development Committee following a
request from MicroLink Devices for the Class 6b property tax incentive covering the entire value of the
property at 300 Wainwright. During the review of that request, the question was raised, does the Village
have alternative tools available to provide financial incentives to industrial and commercial businesses
looking to expand in or relocate to Northbrook? The opinion was expressed that some level of tax relief
may have been appropriate to grant MicroLink, but that the specific tax relief requested by MicroLink under
the Class 6b program was too significant. The Committee was formed to study the economic development
incentives available to not only industrial businesses but also commercial businesses.
As the Committee considers the policy implications of incentives, the Committee may wish to keep in mind
the vision statement in the Village’s Strategic Plan for Economic Development, which states:
Our common economic development vision is that the Northbrook community will foster an
attitude and process that continually strives to maintain and enhance a diverse tax base mix
of retail, office, and industrial businesses to ensure the resources to support the high quality
of public services that our community desires.
A copy of the strategic plan is enclosed, which includes the Village’s strategy for economic development,
highlighting the use of incentives when deemed appropriate. One of the challenges in having incentives is
determining when they are truly necessary.
CLASS 6B INCENTIVE
Prior to reviewing alternative business incentives, a brief review of the Class 6b program is appropriate. This
Cook County program reduces the overall property tax bill on industrial/warehouse buildings for a period of
12 years. Properties receiving Class 6b will be assessed at 10% of market value for the first 10 years, 15% in
the 11th year and 20% in the 12th year. This results in significant tax savings. In the absence of this incentive,
industrial real estate would normally be assessed at 25% of its market value.
AD HOC ECONOMIC DEVELOPMENT COMMITTEE
OCTOBER 25, 2011
Qualifying industrial property consists of (a) new construction, (b) substantial rehabilitation, or (c) substantial
re‐occupancy of "abandoned" property. For a property to be considered abandoned it must have been
vacant & unused for a period of two years, or if vacant and unused for less than two years the Village Board
and County Board must find that “special circumstances” exist for the property to qualify. For new
construction and re‐occupancy of “abandoned” property, the lower assessment levels apply to the entire
property, while for substantial rehabilitation the lower assessment applies only to the added market value to
the building and land resulting from improvements to the site. In addition to the County’s eligibility criteria,
the Village considers additional eligibility guidelines that consist of (a) economic & fiscal impacts of business
on the community, (b) conditions of existing building/site and private financial contribution compared to
public assistance, (c) quality of jobs to be created, and (d) environmental impact. Unique to Northbrook, the
Village has established a process that provides the other local taxing districts an opportunity to review and
comment on each Class 6b request. Copies of the County’s and the Village’s eligibility guidelines are
attached.
PREVIOUS EFFORTS TO CREATE AN ALTERNATIVE TO THE CLASS 6B PROGRAM
Over the years, the Village, in conjunction with the other taxing districts, has explored alternatives to the
Class 6b program. The Village’s most noteworthy success in establishing an alternative to Class 6b was a
property tax abatement for Crate & Barrel’s new corporate headquarters. That building did not qualify for
the 6b or other County programs for office development (7a & 7b), so the Village entered into an
intergovernmental agreement with the Park District, school districts, and Library. Under the agreement,
each taxing agreed to abate a portion of the property taxes similar in nature to the tax savings that the
business would have received under the Class 6b program, if it qualified.
The most recent effort to establish an alternative mechanism to the Class 6b incentive was in 2008, when the
Economic Development Committee (EDC) formed a subcommittee to study establishing an alternative local
property tax incentive program. Attached is information regarding those efforts. Based upon the
subcommittee’s work, the EDC forwarded a recommendation to the Village Board’s Administration and
Finance Committee regarding establishing an alternative incentive program. At that time, the Village
Attorney opined that the incentive as structured was not appropriate under Illinois law. In particular, the
Village Attorney had issue with the formation of a committee consisting of representatives from each taxing
district with the authority to commit each taxing district to the committee’s decision to grant or not to grant
the incentive. The Village Attorney suggested changes to the proposal that would bring the proposed
program into compliance with the law. The most significant change was that each taxing district board
would have to approve the incentive. When the Village Attorney’s revised wording went back to the EDC,
the EDC decided not to move forward with continuing to recommend establishing a formal process or
guidelines for an alternative property tax relief program and concluded that such property tax relief request
should be handled on a case by case basis.
FINANCIAL ASSISTANCE TOOLS AVAILABLE
Attached you will find a table summarizing business financial assistance tools available to municipalities.
This list of incentives was compiled with the assistance of Kane, McKenna and Associates, a financial services
firm that specializes in municipal and economic development financing and which advised the Village with
the creation of the Dundee Road‐Skokie Boulevard Tax Increment Financing District. At the October 25
meeting, staff will review the list with the Committee.
2
AD HOC ECONOMIC DEVELOPMENT COMMITTEE
OCTOBER 25, 2011
Also, attached are the results of a survey regarding business incentives offered by area municipalities. This
survey was conducted by another North Shore community earlier this year.
OTHER AVAILABLE TOOLS
At the meeting, we will also discuss ways in addition to financial incentives by which the Village influences
economic development, including such items as:
a) government attitude;
b) regulations and review processes;
c) provision of adequate infrastructure;
d) outreach and marketing; and
e) targeted plans & programs (e.g. downtown redevelopment, creation of incubator space, etc).
As part of our discussion we will talk about those actions the Village can take that positively impact the
broader business community or targeted areas of the business community as well as those actions that
benefit individual businesses because the business indicates that it needs financial assistance.
SUMMARY
At its October 25 meeting, the Committee will need to determine how it wishes to proceed and if additional
information is needed to explore alternative business financial assistance tools and before making a
recommendation to the Board of Trustees.
3
AD HOC ECONOMIC DEVELOPMENT COMMITTEE
OCTOBER 25, 2011
Ad Hoc Economic Development Committee
Board of Trustee Members
• Todd Heller, Chair
• Michaela Scolaro
• Kathryn Ciesla
Ex Officio Members
• Jim Kahan, Chair, Economic Development Committee
• Pat Lederer, Chair, Industrial and Commercial Development Commission
• Tensley Garris, President, Northbrook Chamber of Commerce & Industry, and ICDC & EDC Member
• Ed Feld, Board Member, School District 27, and EDC Member
• Hillarie Siena, Asst. Superintendent for Business Affairs, School District 225, and EDC Member
4
BUSINESS FINANCIAL ASSISTANCE TOOLS AVAILABLE TO MUNCIPALITIES
Type of Business/Property General Eligibility Requirements Northbrook’s Use of
Incentive Benefit of Incentive
Generally Targeted for Incentive (1) Incentive
Property Tax Related
Incentives
1. County Class 6b Industrial, Warehouse, & R&D Industrial property consisting of (1) new Reduces overall property tax bill over course of 12 years, as • Since 1995, 13 properties
construction, (b) substantial follows: have been approved,
rehabilitation, or (c) substantial re-
occupancy of "abandoned" property
Years 1‐10 ‐ assessed at 10% of market value including such businesses as
(vacant & unused for 2 years or special Year 11 ‐ assessed at 15% Nestle USA, Panek Precision
circumstances found). Year 12 ‐ assessed at 20% Products, Highland Banking,
In the year 13, the property assessed at normal assessed Revell Monogram, Bernhard
Full tax saving applies to entire site for
value of 25% of market value. Woodwork, & Diversified
new construction & abandoned
property. For substantial rehabilitation Metal Products.
tax savings applies only to the added
value to the site
In addition to above County eligibility
requirements, Village has additional
guidelines.
2. County Class 7a Commercial Similar to the above Class 6b eligibility Same as above • Not Used
(under $ 2M investment) criteria, but for commercial property and (Only know of one project in
& County Class 7b must meet the following additional northern and northwest Cook
(over $2M investment) criteria: (a) Area designate as a blighted county communities that has
or renewal; (b) Real estate taxes have been approved.)
declined, stagnated or not fully realized
during last 6 years; (c) Development will
not move forward in a timely fashion
without incentive. (d) County must
approve use of incentive.
Village does not have specific additional
guidelines for use of this program
3. Class C Commercial & Industrial Sites having undergone environmental Same as above • 1000 Skokie Boulevard
remediation and in receipt of NFR letter
(1) These descriptions are not complete descriptions of each program’s eligibility requirements, but provide a general picture of the requirements of the programs.
BUSINESS FINANCIAL ASSISTANCE TOOLS AVAILABLE TO MUNCIPALITIES
Type of Business/Property General Eligibility Requirements Northbrook’s Use of
Incentive Benefit of Incentive
Generally Targeted for Incentive (1) Incentive
from IPEA.
4. Class L Commercial & Industrial Landmark buildings or a contributing Same as above • Not Used
building in designated historic or
landmark district in which owner has
invested an amount of at least 50% of
buildings full market value.
5. Tax Increment Financing Commercial & Industrial The area must be blighted as defined by Provides a mechanism to use incremental tax to pay for • Established TIF District at
State Code and would not develop or redevelopment of an area including such costs as (a) studies Northwest Corner of Dundee
redevelop without the adoption of the & development of plans; (b) property assembly; (b) & Skokie Boulevard with total
redevelopment plan. rehabilitation, reconstruction or repair or remodeling of TIF budget of $5 million
existing public or private buildings; (c) public infrastructure; • In 1987, established and
(d) job training and retraining; (e) financing & interest costs; repealed Downtown TIF
(f) relocation; (g) provision of affordable housing, etc. District.
6. Property Tax Abatements Commercial & Industrial A commercial or industrial firm (a) Abatement of taxes not to exceed $4 million in total for all • Provided abatement to Crate
(IL Rev. Stat., Ch 120, sec. locating within a taxing district from taxing districts and not to exceed 10 years & must be & Barrel to retain corporate
642) another state, territory, or country, or approved by each affected taxing district that desires to headquarters.
(b) having been newly created within participate.
this State during the immediately
preceding year, or (c) expanding an
existing facility.
Sales Tax Incentives
1. Sales Tax Sharing Retail & Restaurants No specific eligibility criteria set by State. Sharing of sales tax revenue collected with business. • Foley Cadillac
The Village has no established criteria, Determined on a case by case basis.
but determined on a case by case basis.
Improvement Areas •
1. Business Districts Commercial The area must be blighted as defined by Provides a mechanism to pay for public infrastructure • Redevelopment Districts
(1) These descriptions are not complete descriptions of each program’s eligibility requirements, but provide a general picture of the requirements of the programs.
BUSINESS FINANCIAL ASSISTANCE TOOLS AVAILABLE TO MUNCIPALITIES
Type of Business/Property General Eligibility Requirements Northbrook’s Use of
Incentive Benefit of Incentive
Generally Targeted for Incentive (1) Incentive
State Code and would not develop or improvements by imposing an additional sales tax (up to 1%) established in the downtown
redevelop without the adoption of the or hotel operations tax (up to 1% in .25% increments) on and along Skokie Boulevard,
business district plan. businesses within designated area to pay for public but Business District funding
infrastructure improvements within the area. mechanisms not used.
2. Special Service Areas Commercial A municipality may designated an area Provides a mechanism to impose a property tax levy on • Not Used
(SSA) an SSA; however, if a petition objecting properties within a designated area to pay for improvements
to the creation of an SSA is signed and as well marketing services and maintenance within the area.
submitted by at least 51% of the electors
residing within the proposed SSA and by
at least 51% of the owners of land within
the SSA, the district shall not be created.
Direct Grants/Loans Funded
Through Standard Municipal
Revenue Sources
1. Building Improvements – Commercial properties in Determined by municipality. Reduces costs to renovate existing buildings and spaces for • Downtown Façade and
Façade Renovations & targeted areas occupancy. Streetscape Improvement
Interior Renovations Grant Program implemented
via a business district to
promote improvements for
the Village’s centennial (no
longer active)
2. Operating a Business Commercial & Industrial Determined by municipality. Provision of technical assistance for items such as • Not Used
Assistance merchandise selection & display, selling products overseas,
etc.
3. Underwriting Land Costs Commercial & Industrial Determined by municipality; but must Reduces the land cost and thus the development of the • Not Used
meet all State laws regarding the property.
acquisition and disposition of property.
4. Rent Subsidies Generally retail & restaurants Determined by municipality. Reduces cost of occupying a space. • Not Used
(1) These descriptions are not complete descriptions of each program’s eligibility requirements, but provide a general picture of the requirements of the programs.
BUSINESS FINANCIAL ASSISTANCE TOOLS AVAILABLE TO MUNCIPALITIES
Type of Business/Property General Eligibility Requirements Northbrook’s Use of
Incentive Benefit of Incentive
Generally Targeted for Incentive (1) Incentive
5. Waiver/Reduction of Fees Commercial & Industrial Determined by municipality Reduces cost of development. • Not Used
Public Infrastructure
Improvements
1. Roads, sewers & water Commercial & Industrial Determined by municipality. Reduces cost of development for a business/developer by • Burial of overhead utility lines
mains the Village paying for public infrastructure costs usually the in the downtown.
responsibility of a business/developer. • Construction of access road
to assist with retaining Sunset
Foods in the downtown.
• Partial reimbursement of
realignment of ring road to
accommodate new Crate &
Barrel store at Northbrook
Court.
2. Streetscape Commercial Determined by municipality; Generally in Village pays for cost of improvements rather than adjacent • Downtown streetscape
Improvements a targeted redevelopment area property owners through a special assessment area, business improvements
district, or special service area mechanism.
Other
Expedited Permit Review Commercial & Industrial Determined by municipality. Indirect financial benefit by speeding up development review • Nestle Pizza Division
process.
(1) These descriptions are not complete descriptions of each program’s eligibility requirements, but provide a general picture of the requirements of the programs.