Delhi Township has two Tax Increment Financing (TIF) districts which can assist in financing public improvements to spur economic development activities within a defined district. Leveraging future revenues from increased property values, eligible projects may include enhanced transportation infrastructure, streetscape improvements, enhanced public safety services and other benefits. The townships first TIF was adopted in 1994 and was recently approved for an extension, therefore it will expire on December 31, 2038. The second TIF district was adopted on 2015 and will expire on December 31, 2045.
Another program where the Delhi Township can collect additional tax revenues to assist in public infrastructure improvements and promote a sustainable commercial area is through a Joint Economic Development District (JEDD). This program provides a means for the township, which is very limited in its ability to acquire revenue, to work cooperatively with a municipality to incorporate a district where income taxes can be collected. Taxes within the designated district can only be accessed on those who work in the proposed JEDD area. Income taxes cannot be assess on residents within the township, unless they are employed within the JEDD area. It is anticipated that revenues from a JEDD will assist the township in certain necessary infrastructure projects and maintenance, while reducing the burden on township funds.
Community Improvement Corporation
Delhi Township has established a Community Improvement Corporation (CIC) to provide expanded economic development opportunities for the township. As a 501c3 organization, the CIC can assist economic development initiatives through grant opportunities and by purchasing, redeveloping, and selling blighted or underdevelopment properties.