The purpose of the Relocation Program is to provide for retention of non-residential uses impacted by redevelopment agreements within the tax increment financing (TIF) District adopted by the Village Board and future redevelopment of the affected property.
The redevelopment of particular parcels of land and the retention of commercial uses is crucial to maintaining an economically strong TIF District area; a commercial area where the image, appearance and environment encourage the attraction of shoppers.
The intention of this program is to provide financial resources to assist impacted business owners re-establish their business within the Village of Lombard and in an area which is appropriate to that use.