Romeoville to Start Reinvestment Incentive Program

The Village of Romeoville has announced a reinvestment incentive program designed to provide incentives to homeowners who substantially reinvest in their home and to help local entrepreneurs expand their businesses into commercial districts within the community, according to a release from the village.

The program will be comprised of various types of investment opportunities for Romeoville residents and business owners. Programs to include:

• Veterans Business Incentive
• Home Based Businesses Incentive
• Residential Home Improvement Incentive
• Senior and Veteran Home Improvement Incentive

“This is a great opportunity to partner with our residents to promote growth and reinvestment within Romeoville. By providing incentives, we feel this will alleviate some of the hurdles that residents and businesses have in financing improvements and expansion,” said Mayor John Noak.

The purpose of the residential component of the program is to:

• Encourage investment in homes built prior to 1980
• Encourage reinvestment in residential neighborhoods which will positively affect the value of Romeoville’s housing stock
• Demonstrate a strong commitment by the Village to reinvest in residential neighborhoods.

The business component is designed to provide financial incentives that will assist home-based businesses in expanding into the commercial zoning districts.

Increased incentives will be offered to veterans and seniors for each program. Details of the programs are being finalized. The program is anticipated to be available April 1, 2016.