Tax Abatement: This is the most readily available incentive. Given the flexibility in the state law relative to tax abatements, this is a tool that offers a wide variety of tax abatement options. Tax Abatement is available for investments in real estate and/or personal property.
Tax Increment Finance: This is another incentive that is available in Dyer. We have a well-established Tax Increment Finance (TIF) District that may be able to serve as an economic development tool. Tax Increment Financing utilizes tax revenues collected in the future generated through the project, to help make project sites more appealing. TIF projects typically are in the form of infrastructure improvements.
Façade Improvement Program: This is a program financed through TIF revenues that can assist with improvements to existing commercial districts. It is a matching grant program that makes up to $25,000 available to existing commercial structures in the TIF District.
Creative financing of projects is also available through the Economic Development Commission and the Redevelopment Commission.