Public Infrastructure

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Tax Increment Financing (TIF)

As a public entity, the Lake County Port Authority can secure fixed-rated Tax Increment Financing, or TIF, for qualifying public projects to provide local communities better financing terms.

Qualifying Public Works include:

  • Land Acquisition
  • Lighting
  • Parking
  • Sewer
  • Streets
  • Utilities
  • Water

The benefits of TIF Financing are:

  • Part or all of your project is funded without a tax increase
  • The need for General Obligation bond issues are reduced or avoided
  • You will receive more favorable financing terms (based on your projected TIF revenue)
  • Your infrastructure improvements drive long-term economic development
  • You will start your project earlier with swift closing and interim financing
  • There are no sales taxes on hard construction costs
  • Special assessments

For more information, contact:

Mark Rantala, Executive Director
440-357-2290 x232
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