Time for an Improvement? Chances are, you’ve already pictured that perfect addition to your home, business or commercial property. Occasionally, however, you put aside your dream, especially when the cost estimates arrive. If only there was a way to reduce the cost of the project. Maybe there is!

Fisher National Bank and the Village of Fisher have created an innovative economic development program called Totally Improved Fisher (TIF). This project offers financial benefits to local property owners who want to make affordable real estate improvements to existing houses, apartment buildings and commercial structures throughout the community.

Consider the possibilities:
      • Family room, garage, or other home addition.
      • Driveway, sidewalks, ramps, and doorways.
      • Grading, tiling, drainage, and landscaping.
      • Demolition, renovations, remodeling.
      • Siding, windows, and weatherization.
      • Decks, patios, sunrooms.
      • A completely new home on a vacant lot.
      • Business expansion or new building facade.

How is this Program Funded?
The Village of Fisher and Fisher National Bank are working together in 2003 to make $100,000 of funds available for economic development through a Community Revolving Loan Fund. The Village and the Bank have each deposited $50,000 in this account for the express purpose of offering low interest loans to Fisher property owners who wish to make real estate improvements anywhere in the community. If your property is located within the Fisher Tax Increment Financing District, additional savings may be realized through real estate tax increment benefits. Cash grants to reduce costs of removing deteriorated structures are also available.

	Totally Improved Fisher Program Options
What do you want to do?	Tax Increment Financing Redevelopment Agreement	Revolving Loan Fund with TIF District Benefits	Revolving Loan Fund without TIF District Benefits	Totally Improved Fisher Grant
NEW Construction	YES (minimum investment of $90,000)	YES (minimum investment of $90,000)	YES (minimum investment of $90,000)	N/A
"Fix-Up" Project	YES (minimum investment of $15,000)	YES (minimum investment of $5,000)	YES (minimum investment of $5,000)	N/A
"Clean-Up" Project	N/A	N/A	YES	YES
Eligibility	Projects on properties located within the Fisher TIF District.	Projects on properties located within the Fisher TIF District.	Projects on properties located within the corporate limits of the Village of Fisher.	Projects on properties located within the corporate limits of the Village of Fisher.
Terms	50% rebate of annual net real estate tax increment up to $8,000 of approved eligible project costs, 8 years, or life of TIF District whichever occurs first. Limited to one TIF District Redevelopment Agreement per parcel and the availability of TIF District funds. Projects requiring investment of $200,000 or more may be eligible for additional TIF District benefits.	Loans available to qualified borrowers per terms of the lending institution plus 50% credit of annual real estate tax increment up to $8,000 of approved eligible project costs, 8 years, or life of TIF District, whichever occurs first. Limited to one loan per parcel and the availability of funds.	Terms depend on Bank’s determination of applicant’s overall creditworthiness. Limited to one loan per parcel and the availability of funds.	Grants valued at $1.00 per square foot (up to $1,000 maximum) of structure demolished, removed, or relocated from the subject property. Limited to one grant per parcel per year and the availability of funds.
Payment Procedures	Annual rebate of net real estate tax increment generated by the project per terms of a Redevelopment Agreement.	Loan repayment per Bank requirements; plus annual credit of 50% of real estate tax increment generated by the project per terms of a Redevelopment Agreement.	Loan repayment per Bank requirements; TIF District benefits do not apply.	Pre-defined, one-time, lump-sum requisition upon completion of project.
Application Process	Contact the Village’s TIF District advisers at The Economic Development Group, Ltd. (309)664-7777.	Contact Fisher National Bank for Program Application, (217) 897-1136.	Contact Fisher National Bank for Program Application, (217) 897-1136.	Contact Fisher National Bank for Program Application, (217) 897-1136.

See Totally Improved Fisher Guidelines.