Local Incentives

General Obligation Bonds
General Obligation Bond financing is available for a broad range of projects and might be available for a particular economic development project undertaken for a valid public purpose. A major exception to the ability to use GO bond financing is the financing of county roads and bridges. Because general obligation bonds are backed by the political subdivision's taxing power, they generally bear a relatively low rate of interest.

Economic Development Income Tax
EDIT revenue may be used for economic development projects and for other uses specified in the EDIT law. The program provides counties with an income tax revenue system in which to fund economic development projects within the county. A project receiving CEDIT funds must involve an expenditure for land, site improvement, buildings, equipment, infrastructure improvements, machinery, and/or administrative and operating expenses.

Tax Incremental Finance (TIF)
TIF provides for the temporary allocation to redevelopment districts of increased tax proceeds in an allocation area generated by increases in assessed value. Thus, TIF permits cities to use increased tax revenues stimulated by redevelopment to pay for the capital improvements needed to induce the redevelopment.

Property Tax Abatement
With respect to real property, the deduction is a percentage of the increase in assessed valuation that results from rehabilitation or redevelopment. With respect to personal property, the deduction is a percentage of the assessed valuation of new manufacturing equipment.

Industrial Development Fund
Any government unit, other than a township, may establish an industrial development fund for the purpose of improving real property to make it more suitable for industrial use.

Cumulative Capital Development Fund (CCDF)
The program gives the municipality the authority to raise funds for one or more capital improvement projects. These funds are collected outside of the maximum established levy.

Barrett Law Assessments
Certain public improvements which are made to benefit a specific number of property owners can be funded through a special assessment levied against their properties. The municipality obligates the bond which is repaid through the special assessments levied against the benefited property owners.

Revenue Bonds/Sewage Utility Funds
Utility bond issues are revenue bonds for municipally-owned utilities. They can be used to finance water and/or sanitary sewer improvements and expansions. Water treatment facilities, wastewater treatment facilities, and the bonds are retired by payments from the utilities. This comes from users whose rates are increased to cover the debt retirement and other costs required in a bond issue.

Download Our Incentives Brochure

Click here for a brochure with a description of both state and local incentives that can offered to employers who are looking to stay in DeKalb County or move their business to our area. To print this brochure on a duplexing printer, please select "Open to Top" when choosing your printer specifications.

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