Development Assistance Programs, Streamwood, Illinois (IL)

Development Assistance Programs

Pro-business. Pro-development. The Village of Streamwood casts itself in the non-traditional role of facilitator rather than simply a regulator. It’s an attitude that drives Streamwood’s Community Development Department. The Department manages all planning, zoning, building and property maintenance functions for the community. Developers continually commend the Community Development Department for its streamlined approvals process.

Assisting business does not end with the development process. The Village conducts an ongoing business retention program. The Village strives to be a partner with local business. Working as partners, the Village seeks ways to keep businesses competitive. Tax incentives, revised tax classifications or utilization of alternate revenue strategies are just a few ways in which businesses can profit and reinvest.

The following information may be useful for your business. Read about the Tax Incentive Programs available to commercial, industrial and residential developers in Streamwood and in Cook County. Some of these programs require specific conditions to be met or cooperative enterprises with other agencies which may not be feasible for your development. However, this summary does provide a comprehensive list of information available to date.

The Village is willing to consider any of these programs on a case-by-case basis. Please be advised that the majority of these incentive programs require specific actions to be taken by the Village Board including adoption of resolutions or ordinances. Therefore, the final authority to grant such relief rests with the Village Board. Additionally, some programs require assistance from, or action taken by, other agencies. Where possible, we have also included a listing of the procedures required and contact person for each of these initiatives.

Additional inquiries or information can be directed to the Community Development Department. If you have any questions, please contact John Peterson, Community Development Director, at (630) 736-3843.

Cook County Tax Classification and Loan Programs
These programs reduce the taxable assessment level of property under certain specific conditions. Application is made to the Cook County Assessor’s Office. Application must be made to the County prior to commencement of construction. And, the Village must support the application through adoption of a Resolution. Copies of the application are available from:

Cook County - Department of Economic Development
69 W. Washington Street - Suite 2900
Chicago, Illinois 60602
(312) 603-1070
Contact: Jacquelyn Harder or
24 hour Business Information fax back (312) 603-1010

Information on application requirements to meet the Village Board’s agenda for the supporting Resolution, please contact:

Village of Streamwood
Community Development Department
301 E. Irving Park Road
Streamwood, Illinois 60107
(630) 837-0200
Contact: John Peterson, Director

TIF Districts, Commercial Business Districts and Shared Sales Tax Revenue Programs
These programs provide opportunities for the municipality to work with a developer to make a project happen. The community can provide initial funding for a project that is expected to generate substantial tax revenue. All require formal Village Board action. Information on application requirements to meet the Village Board’s agenda, please contact:

Streamwood Finance Department
301 E. Irving Park Road
Streamwood, Illinois 60107
(630) 837-0200
Contact: David Richardson, Director

Industrial Revenue Bonds and Special Service Areas
Specific bond issuance or tax generation program aimed at recapturing expended costs to pay for infrastructure improvements. Both programs require formal Board action. Information on application requirements to meet the Village Board’s agenda, please contact:

Streamwood Finance Department
301 E. Irving Park Road
Streamwood, Illinois 60107
(630) 837-0200
Contact: David Richardson, Director

Tax Incentives
Click here to read about our Tax Incentives.

Village of Streamwood
301 E. Irving Park Road
Streamwood, IL 60107-3096
(630) 736-3800

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