Palos Heights currently offers qualifying businesses three unique incentives. A Facade Improvement Program, Sign Grant Program, and Tax Increment Financing. Learn more about each incentive below.
Facade Improvement Program The Palos Heights Facade Improvement Program provides a financial incentive of up to $10,000 or 50% of a total project's cost (whichever is less) to property and business owners alike for significantly improving or reinvesting in the facade of their commercial space. Since the programs inception in 2009, four businesses have taken advantage of the program including Capri Italian Ristorante, Papa's Fresh Foods, Sam Buca's, and Sperone's.
Sign Grant Program The Palos Heights Sign Grant Program piggy backs off of the Facade Improvement Program. We provide a financial incentive of up to $2,500 or 50% of the total cost of wall signage and architecturally compatible sign lighting to property and business owners for significantly improving and upgrading their existing wall signage.
For examples please review the City's Design Guidelines HERE.
Tax Increment Financing Establishing a Tax Increment Financing District (TIF District) provides a property tax incentive to developers and businesses and encourages them to locate and invest in a designated area by using property tax increment to reinvest and improve the district area. Palos Heights currently has two TIF Districts. The most recent one is part of the Jewel-Osco Redevelopment at the Southeast corner of S. Harlem Avenue and 127th Street. The other is known as the Gateway TIF and it can be found at the northwest and northeast corners of S. Harlem Avenue and Route 83/College Drive.