The Montclare TIF was designated to support the creation of a senior housing complex on 11 acres of former industrial land within the Montclare community. When it was designated, the property was characterized by debris from a four-building industrial facility that was demolished in 1986. The TIF is designed to provide financial assistance for eligible construction costs and interest expenses related to the site's redevelopment with an independent living facility and community room. Funds are also targeted for site assembly costs, preparation expenses and public works improvements within the district.