Incentives & Resources

There are several key incentives available for investors looking to rehabilitate one of downtown’s historic buildings:

Central Area Tax Increment Financing (CATIF) District (managed by City of Springfield’s Office of Planning and Economic Development)
About
CATIF Boundaries
Read DSI’s Position on CATIF Priorities

Federal Historic District (managed by Illinois Historic Preservation Agency)
About
Boundaries

Owner-Occupied Real Estate Project
The Lincoln Land Small Business Development Center located on the Old State Capitol Plaza at #8 South can help walk you through these federal business programs if you are planning to work from your rehabbed building:
Small Business Administration 504 Loans
Small Business 7a Loan Program

City’s Microloan Program – Through Justine Petersen, the largest SBA micro lender in the U.S., provides comprehensive micro-enterprise lending and training to small and start-up businesses including one-on-one counseling and technical assistance; credit building strategies; FDIC Money Smart Curriculum; a business plan questionnaire to assist clients through the business planning process; micro-loan origination; and post-loan technical assistance for those that struggle to meet their business plan benchmarks and for those that are expanding their businesses. Contact Danyel Pitts in the city’s Planning and Economic Development Office.