Roselle officials discuss new ways to attract and keep businesses
Updated 2/5/2021 2:51 PM
Roselle officials are talking about offering grants to promote economic development in certain parts of the town.
The village board recently reviewed a proposal to create grant programs for new and existing businesses in Roselle s three tax increment financing districts.
In a TIF district, as redevelopment boosts property values, the extra tax revenue that otherwise would go to taxing bodies can be used to pay for improvements to the area for up to 23 years.
Roselle could use TIF money to establish up to four grant programs. The board is expected to continue its discussion on the idea in March.