- The purpose of the Tax Increment Financing (TIF) District Façade and Building Improvement Grant Program is to provide financial assistance for the design and construction of façade improvements which are in keeping with the Village Comprehensive Plan.
- The program is also intended to provide financial assistance for capital improvement projects completed in conjunction with a façade improvement project.
- This program is a public/private partnership designed to provide incentives and assistance to encourage building improvements that preserve the character of the Village and that help create a human scale and pedestrian-friendly atmosphere within the Village as well as address factors that qualified the District as a “conservation area.”
The program is funded with revenues generated from the Village’s TIF District(s).
Applicants may be the owner of an eligible building(s) or the owner of a new or existing retail business within the District. (For the purpose of this program, retail business shall include all retail uses permitted under the zoning ordinance for the applicable zoning district.) A retail tenant’s eligibility is subject to written consent of the building owner for all proposed improvements. To be eligible for consideration, a project must comply with the following requirements:
- The property must be in a TIF District.
- The project must be for façade or signage renovation, restoration or improvements.
- Any capital improvement must be done in conjunction with an aesthetic improvement (see Terms below).
- The project must meet all building code and zoning ordinance requirements, including applicable design review.
- No financial support shall be given to a retail entity initiating operations in the redevelopment project area while terminating operations at another Illinois location within ten miles of the redevelopment project area but outside the Village, as provided in the Village’s TIF Redevelopment Project and Plan.
Expenses Eligible for Grant Funding
The objective of the program is to encourage exterior improvements that preserve and enhance the character of the Village consistent with the concepts identified in the Village Comprehensive Plan, and address factors that qualified the District as a “conservation area.” As such, expenditures relating to the following types of improvements and related services are considered qualifying:
- Aesthetic and structural façade and signage renovation/improvements
- Capital improvements, including, but not limited to:
- Fire suppression system upgrades
- Grease trap installation
- New or replacement landscaping
- Parking lot resurfacing/reconstruction
- Other improvements may be considered provided that all eligibility factors and program terms are satisfied
- Design professional fees and Plan Commission process fees
The Façade and Building Improvement Grant Selection Committee, comprised of Village Staff, will review and evaluate all applications for grant funding. The appearance review by the Plan Commission shall be completed prior to the review of the grant request by the Village Board. After the appearance review is completed, the Selection Committee will make a recommendation for funding to the Board of Trustees. The following criteria will be considered by the Board in determining the final award amount for a particular grant request:
- Condition of building façade and signage and need for renovation.
- Extent to which proposed improvements address appearance factors that qualified the TIF District as a “conservation area.”
- Extent to which proposed improvements restore, maintain or enhance the aesthetic character of the district.
- Extent to which the improvements are eligible for the program.
- Projected impact on the value of the subject property, especially with respect to the value of the particular improvement for a future occupant of the unit or building.