Land Use & Zoning
In Illinois, the creation of a Tax Increment Financing (TIF) district requires a finding that the area is:
ALocated within one mile of a train station
BBlighted or in need of conservation and that private investment would not occur 'but for' the TIF✓ Correct
CSubject to an active environmental cleanup
DZoned for industrial use
Explanation
Under the Illinois Tax Increment Allocation Redevelopment Act, a TIF district can be created only after a finding that the area qualifies as a 'blighted area,' 'conservation area,' or 'industrial park conservation area,' AND that private investment would not occur in the area without TIF assistance ('but for' finding). This prevents TIF from subsidizing development that would happen anyway.
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