Economic Incentive Agreements

The Village of Lombard, through its adoption of its Economic Development Plan in 2011, has identified a number of strategies that should be undertaken to assist the private sector in the development of key properties and/or attracting desired businesses to the community. The Plan recognizes the Village Board’s desire to “continue to expand economic development strategies to attract, maintain or expand business opportunities within the community, to include creating innovative solutions to fill commercial vacancies and innovative solutions to vacant lot development.”

The Plan identifies four economic development goals:

• Retain, expand and attract commercial and industrial businesses

• Promote general economic development and business growth 

• Increase municipal revenue sources and identity incentives for specific development opportunities

• Encourage redevelopment along key commercial corridors 

The Village has developed an Economic Incentive Policy, which implements the “explore all options” approach and a separate policy for business retention.

Incentive Agreements

Blue Stone/Thornton's Gas Station Incentive Agreement

Mariano's Incentive Agreement

Yorktown Commons Incentive Agreement

Hoffmann Group/Golf Social Incentive Agreement

Holladay Properties/Lilac Station Incentive Agreement