Buckley Companies

Incentive, Analysis & Formation:

Illinois Industrial Jobs Recovery Law ("IJRL")

The establishment of an Industrial Job Recover Law (“IJRL”) district is similar to the establishment of a TIF district, but there are fewer steps, typically resulting in a quicker establishment process. While many may think of an IJRL as an industrial “TIF” it is not.  Rather, the IJRL is a means to use increment to stimulate industrial jobs. 

Tax Increment Financing

The Buckley Companies-Nicolosi & Associates team provides a full service approach to Tax Increment Financing (TIF) projects being considered by a local community. Our group structures and negotiates TIF and other inducement agreements for municipal clients, determines TIF eligibility and creates the district. We provide all documentation including TIF plans, resolutions, cash flow analysis and developer and taxing body negotiations.

We analyze the financial models and assumptions necessary to achieve optimum results for each community. Our expertise and valued relationships with qualified developers has allowed us to structure hundreds of millions of dollars in TIF and other government inducement agreements. Our team will prepare a flexible action plan that helps you achieve your community goals.

Special Service Areas

Special Taxing Districts (STD) can take the form of a Special Service Area or a Special Assessment. Under an STD, portions of redevelopment costs could be funded though an additional real estate tax only on the properties within the STD. Since the community dictates the boundaries of the STD and the amount of the additional tax to be imposed, STDs are a great tool to bridge financial gaps in a way that does not impact constituents outside the district.

Business Development Districts

Business Development Districts (BDD) offer a unique financing mechanism that utilizes retailer’s service occupational and hotel sales tax revenues to help fund redevelopment. Our team performs a comprehensive analysis of the feasibility of a BDD for a particular project, which includes determining the boundaries of the BDD, the types of sales within the proposed district, the amount of revenues which can be expected to be generated within the BDD, and any political considerations associated with the formation of the BDD. In addition, we will negotiate and draft redevelopment agreements for the use of the funds generated by the BDD.