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FISHER VILLAGE OFFICE | 100 E. School St. | FISHER, IL 61843
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totally improved fisher

TIF... Totally Improved Fisher
AN OLD SHED LIKE
THIS ONE...

COULD BE WORTH
SOMETHING TO YOU!
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fisher national bank

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Totally Improved Fisher
Page 1

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PROGRAM GUIDELINES
NEW Construction / Residential or Commercial
OUTSIDE of the Fisher TIF District
Applicants are required to build a new structure with a fair market value of $90,000 or greater on an existing, vacant lot within the Village of Fisher to qualify for up to $15,000 (five-year balloon, 2nd mortgage) from the Revolving Loan Fund. 1

WITHIN the Fisher TIF District
Applicants are required to build a new structure with a fair market value of $90,000 or greater on an existing, vacant lot within the Fisher TIF District to qualify for up to $15,000 (five-year balloon, 2nd mortgage) from the Revolving Loan Fund which may be repayable in part by a credit of 50% of annual real estate tax increment. TIF District benefits are available for up to eight (8) years, a cumulative credit amount of up to $8,000, or the life of the TIF District, whichever
occurs first. TIF District benefits are subject to verification of eligible project costs and the availability of TIF funds.

Fix-Up Project / Renovation
OUTSIDE of the TIF District
Residential and commercial applicants are required to renovate, remodel, or make repairs totaling $5,000 or more on an existing structure to qualify for up to $7,500 (five-year balloon, 2nd mortgage) from the Revolving Loan Fund.

WITHIN the Fisher TIF District
Commercial applicants are required to renovate, remodel, or make repairs totaling $5,000 or more on an existing structure within the Fisher TIF District to qualify for up to $7,500 (five-year balloon, 2nd mortgage) from the Fisher Revolving Loan Fund PLUS a 50% credit of annual real estate tax increment. TIF District benefits are available for commercial projects up to eight (8) years, a cumulative credit amount of up to $8,000, or the life of the TIF District, whichever occurs first. TIF District benefits are subject to verification of eligible project costs and the availability of TIF funds.
2

Clean-Up Project
Revolving Loan Fund
Applicants are required to demolish, remove, or relocate any deteriorated, dilapidated, or obsolete structures from an existing lot within the Village of Fisher to qualify for up to $7,500 (five-year balloon, 2nd mortgage) from the Revolving Loan Fund. Total costs for the clean-up project must total at least $3,000 to qualify for assistance through the Revolving Loan Fund program. The removal or relocation of a mobile home is regarded as an eligible expense, however all other applicable structures must be real property and included in the current real estate tax assessment of the property.

Totally Improved Fisher Grant
Fisher residents may apply for a Totally Improved Fisher Grant to demolish, remove, or relocate any deteriorated, dilapidated, or obsolete structures from an existing lot within the Village of Fisher. Grants up to $1,000 are awarded on a first come, first served basis and limited to one grant per parcel per calendar year. Amounts are determined by multiplying the square footage of the building’s footprint by a rate of $1.00 per square foot. The Totally Improved Fisher Grant program is funded annually by the Village of Fisher and administered by Fisher National Bank.

1- The Totally Improved Fisher program does not apply to new homes constructed on lots in the Heritage Estates Subdivision which are eligible for a $10,000 private developer grant under a separate incentive program. Details available at Fisher National Bank.

2- The Illinois Property Tax Code already provides a Homestead Improvement Exemption limited to the fair cash.

The Fisher TIF District is the area
within the blue hatched line ( / / / / / ).
TIF District map

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