The Kinzie Industrial Corridor’s Small Business Improvement Fund application opens on Jan. 4- Feb. 8, 2020. There will be an informational webinar on Thursday, Jan. 7 at 1 p.m. You can register here.

The Small Business Improvement Fund (SBIF) program uses Tax Increment Financing (TIF) revenues to help owners of commercial and industrial properties within specific TIF districts to repair or remodel their facilities for their own business or on behalf of tenants.

Staring Jan. 1, 2021, SBIF staff will begin to roll out a series of enhancements to the program. Program participants will receive grants to cover between 30 percent and 90 percent of the cost of remodeling work, with a maximum grant of $150,000 for commercial properties and $250,000 for industrial properties. The grant, which is administered by SomerCor on the City's behalf, does not have to be repaid.

Contact Rod Burch at rod@wcachicago.org to see if you qualify.

Learn more about the Kinzie Industrial Corridor here.

Qualifications and Restrictions

Expenses eligible for a SBIF grant include:

Facade repair and replacement

Permanent interior renovations and build out

New windows, floors or roof

New heating, ventilation and air conditioning

Plumbing

Electrical

Improvements to accommodate disabled patrons or workers

Purchase of adjacent property for building expansion or parking

Project-related design and construction fees

SBIF grants are provided as reimbursement to property owners after remodeling work is completed and expenses are paid. Residential property, residential components of mixed-use buildings, and property leased to chains and certain other businesses are not eligible for the program. Vacant business property is eligible, but grants are not paid until the space is occupied by a SBIF-eligible business tenant.

Register for the webinar to learn more.