227 W Main St.
Havana, IL 62644
Economic Development Coordinator: Brenda Davenport-Fornoff
The Economic Development Committee oversees business and economic growth. If you have any questions regarding economic development, please feel free to contact us.
Economic Development Revolving Loan Fund
The City of Havana currently manages two Revolving Loan Funds which can be used to make low-interest loans to qualified area businesses.
Revolving Loan guidelines ED Revolving Loan guidelines 07.27.2023
Tax Increment Financing (TIF)
Tax Increment Financing otherwise referred to as (TIF) is an economic development tool that was created by state governments to help aid in the restoration of blighted areas and buildings within the TIF boundaries. With the help of this economic development tool, communities can make needed improvements and provide incentives to current and prospective business owners. The City currently has one TIF Redevelopment area which is TIF 2 Rt. 78 / Illinois River.
Business Development and Redevelopment District (BDD)
A Business Development and Redevelopment District (BDD) is a special financing program created by a municipality to encourage redevelopment within targeted areas of the community. This program enables municipalities to attract development on vacant properties and redevelop existing properties within a designated BDD Area. New business development will increase local services and amenities, increase employment opportunities, and increase sales and property tax revenues for the municipality, as well as for other taxing bodies. This economic development tool is very flexible and allows municipalities to collect up to 1.0% additional retail sales tax and hotel tax to fund any project that benefits the BDD. Business Development Districts allow municipalities to make and enter into all contracts necessary or incidental to the furtherance of a BDD Plan – including payments to private developers for eligible business district project costs.
Business Development District Application
Havana BDD map
Downtown Revitalization Project
Downtown districts in rural communities across America have faced challenges in the evolution from their historical significance as central gathering places and hubs of commerce to areas lacking adequate reinvestment. The City of Havana faces this same challenge.
The City of Havana, Mayor Stadsholt and the City Council have engaged 353 Court, LLC to work with the City and the downtown business owners to bring about the revitalization of our central business district.
Since 2017, the City of Havana with the help from 353 Court, LLC have helped facilitate over $2,500,000 in both public and private invest in the downtown business district. The City has also completed construction on a new downtown streetscape, which provides new parking areas, water lines, water main, and sidewalks for our downtown businesses and community as a whole.
The City of Havana is constantly striving to “Move Havana Forward, with Pride and Optimism”
For further information regarding the City of Havana’s Downtown Revitalization Efforts please use the following resources:
353 Court LLC Report
Havana Business Park
The Havana Business Park is located along U.S. Route 136 on the eastern edge of town.
Havana Business Park Phase 2 Protective Covenants
Business Park Layout
Business Park Topographical Map