Lake in the Hills is seeking a tax incfrement financing consultant. | Courtesy of Shutterstock
Lake in the Hills is seeking a tax incfrement financing consultant. | Courtesy of Shutterstock
The Lake in the Hills Community Development Department issued a request this week for proposals for tax increment financing (TIF) consultant services.
The consultant firm would be helping the village determine the feasibility of developing a TIF district.
The selected firm would carry out reviews of the geographic area to determine eligibility and also create TIF redevelopment plans. The Lincoln Institute of Land Policy describes TIF as a means to support economic development by earmarking property tax revenues from increases in assessed value in a specified district.
Interested businesses are encouraged to view the full request at the village’s bid website by adding company information to the plan holder list. Proposals will need to be submitted to the department by March 11.
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