Tax Increment Financing-Neighborhood Improvement Program (TIF-NIP)
The Tax Increment Financing-Neighborhood Improvement Program (TIF-NIP) is a Department of Planning and Development (DPD) program that provides home repair grants in eligible TIF districts. Since 1999, 25 TIF-NIPs have been created.
The program provides home repair grants for single-family residences (1-4 units). Grants are primarily for exterior repairs, however, up to 30% of the grant may be used for interior repairs that are health and safety related. An exception is made to the 30% limit for energy conserving measures, including air sealing the home, replacing the boiler or furnace with a high-efficiency model and installing roof insulation below R-49.
Homeowners earning up to 100% of the area median income (AMI) are eligible. If household income is between 100 to 140% of AMI, homeowners must match the grant dollar for dollar.
DPD works in collaboration with Neighborhood Housing Service (NHS) to administer the program. NHS is responsible for processing grant applications, providing assistance with determining the scope of work, aiding in contractor selection, as well as overseeing the repair work and processing payments to the contractors.
For additional information, contact Julio Soriano at 312.744.7090