The City of Mount Carroll, Illinois and the Mount Carroll Community Development Corporation (CDC) through their effors of promoting economic development are offering the following programs and resources. These packages are aimed to attract and assist residential, commercial and industrial development for those looking to locate or expand in our community.
Enterprise Zone (EZ)
There are currently four (4) parcels of land located within the city limits of Mount Carroll that are in the Enterprise Zone. They are goverened by the Whiteside Carroll County Enterprise Zone. Local incentives offered through the Enterprise Zone include:
- Sales tax deduction on building materials
- Property tax abatement on new improvements
- Investment tax credits
- Utility tax exemptions
- Machinery and equipment deductions
Tax Increment Financing (TIF)
This assistance program is based on the increase in property taxes generated by the incremental increase in the value of the property over a specified time. These funds may be used for:
- Construction of public works or improvements
- Studies, surveys and plans
- Professional services such as architectural, engineering, legal, marketing and financial planning
Community Development Assistance Program (CDAP)
The funds from this program may be used to assist private for-profit and not-for-profit businesses to carry out economic development projects. Generally, CDAP grant funds are granted to communities to be loaned to as private for-profit and not-for-profit entities that must document the need for the grant and/or loan assistance. The funds may be used for:
- Land Acquisition
- Installation or rehabilitation of commercial or industrial buildings
- Structures or other real property
- Equipment and improvements
- Working capital (inventory, employee salaries, general operating expenses, advertising/marketing expenses)
Business District Development and Redevelopment Program (BDD)
These funds may be used as and economic tool to bring in businesses, assist businesses and help pay for infrastructure projects.
Commercial Development & Business Retention
We are always open to new land developers interested in available prime acreage. Please contact us and let us know how we may help with your land development plans:
Contact us about development here.
Our Downtown Preservation Program provides funding for safety first and then restoration or maintenance of our historic heritage in the downtown buildings. This funding opportunity is focused on facades, entryways, gates, railings, fencing, etc.
The Mount Carroll Community Development Corp. manages the loan program in partnership with the Mount Carroll Historical Society which reviews the application to ensure guidelines and intent of program are addressed.
Funding is limited, so please make sure to get your application in as soon as possible.
Should you wish to participate in the program, please return your application with the non-refundable $50 application fee.
The dedicated members on this committee look for ways to spur economic development through both the residential and commercial/retail markets. They are available to work with property owners to inform them of available resources that will aid them in their process, while proactively seeking ways to encourage potential developers. This committee also works to keep current on legislation and processes dealing with taxing districts, assessment, zoning and other issues that affect land development.