The City of Dixon has established two goal-oriented Tax Increment Finance (TIF) Districts within the corporate boundary of the City. Both TIFs were developed by the City to enable important reinvestment in the core of the City of Dixon both in the traditional downtown and along the scenic Rock River that runs through the heart of Dixon.
The City's first TIF was established to enable construction of a multi-story Class "A" office building in the central business district. That project, started in 1990, was to enable developers to house USF&G Insurance Company's Regional Office and clinical offices for Medical Arts Clinic group practice. The facility was also supported by a new City of Dixon multi-decked parking structure adjacent to the project. Today, the building, called Town Square Centre, is the home of KSB Hospital's group physician practice, their University of Illinois Rural Residency physician training program, and the offices of the Dixon Chamber of Commerce and Lee County Industrial Development Association, and other tenants.
Dixon's newest TIF, established in 2005, encompasses extensive areas along the scenic Rock River as it flows through the center of the city. This TIF was established to provide a tool to be used by city officials to assist developers with a broad variety of potential projects. These are envisioned to include: commercial and residential types of redevelopment and, to displace distressed or underdeveloped properties within the TIF. Already there is a 48-unit condominium project underway at the western end of the TIF and directly on the Rock River. The site was a former concrete ready-mix plant and the City is investing in new streets and streetscape to front the site. The City of Dixon is continuing to aggressively look for potential developers to work with their Riverfront Redevelopment Committee on TIF projects throughout the entire District.