Incentives

building
Incentives

Incentive Policy
The Village of Huntley occasionally offers general incentive assistance to aid in the funding of infrastructure and other site improvements to help attract business. Incentives are designed to achieve public benefits including increased tax revenues (both property and sales taxes), desired additional employment, and new public improvements that outweigh proposed incentives. Incentives must be size appropriate, timely and are reviewed on a case-by-case basis.  The following documents are provided to assist in the application process:

Economic Development Incentive Policy
Economic Development Incentive Application (Word)
Economic Development Incentive Application (PDF)
Economic Development Application Addendum - Sources & Uses

Fast Track Permitting
Huntley’s permitting process provides for fast permitting and development approvals. Fast tracking demonstrates Huntley's understanding that time is money.  Efficient and timely approvals minimize construction related costs and represent an important economic incentive.

Qualified sites are parcels:

  • listed for sale or lease, 
  • appropriately zoned, 
  • meet zoning and comprehensive plan requirements, 
  • served by utilities,
  • fulfill the requirements of the development application, and 
  • maintain access to existing road networks. 

Properties with these characteristics are designed to allow a business to receive plan approvals within 90 days of full plan submittal.

Recent examples of fast track permitting approval include: 

Facility Type

Size

Approval Time

Distribution/Warehouse

757,000 SF

85 Days

Supportive Living Center

118,000 SF

62 Days

Stand Alone Retail

  16,000 SF

70 Days

Warehouse Expansion

  20,000 SF

48 Days

Distribution Center

  42,000 SF

43 Days

Retail Build-out

 Various 

31 Days

Retail Build-out

 Various

24 Days

Retail Build-out

 Various

37 Days


McHenry County Loan Fund 
The McHenry County Loan Fund (MCLF) exists for the purpose of encouraging economic growth and increasing the size of its commercial and industrial base. The MCLF is a government-funded program that helps build businesses in McHenry County. The MCLF is administered by the McHenry County Board and marketed by the McHenry County Economic Development Corporation. The MCLF provides funds in combination with other sources of financing needed to get a new business off the ground or help growing companies meet expansion needs. MCLF funds are used to achieve lower overall interest costs. It can be an affordable source of financing that can be used with or in place of a traditional commercial or SBA loan.   Advantages include:

  • Long term maturity
  • Quick response time
  • Minimal upfront costs
  • Lower costs than SBA loans

Any new or expanding business located in McHenry County with a completed business plan is eligible to apply for a low-cost loan through the McHenry County Loan Fund. 

Upper Illinois River Valley Development Authority (UIRVDA)  
The Upper Illinois River Valley Development Authority is a general development agency serving the Counties of Bureau, Grundy, Kane, Kendall, LaSalle, Marshall, McHenry and Putnam. UIRVDA can issue bonds that can finance capital improvements and can reduce the rate of interest.  

State of Illinois
The State of Illinois, through the Department of Commerce and Economic Opportunity, administers a variety of programs to assist businesses locating or expanding in the state.