As a member of Illinois Main Street and a Main Street America Affiliate™, Downtown Pontiac is part of a national network of more than 1,200 neighborhoods and communities who share both a commitment to creating high-quality places and to building stronger communities through preservation-based economic development.
Tax Increment Financing
The City of Pontiac has designated certain defined areas of the city as Tax Increment Financing (TIF) Districts. The TIF districts were established in order to attract private developers to areas that are in need of redevelopment. View a map of the current TIF districts (PDF).
Tax Increment Financing works by using increased tax revenues of a redevelopment area to fund improvements and incentives for rehabilitation. TIF induces development where it would not otherwise take place, which in turn creates employment opportunities and generates additional local and state tax revenue. This additional tax revenue is used to pay for improvements and incentives in the TIF district.