Fixing Your Facade? There's a Grant for That

Business owners looking to make exterior improvements to their Oak Park property are eligible for grant money that will help defray some of the costs.

Starting Feb. 29, the Oak Park Development Corporation will start accepting applications for improvement grants for the Commercial Property Rehabilitation and Preservation Program.

Earlier: Local Entrepreneurs Get Helping Hand

Here's what's eligible for reimbursement: signs and awnings, restoration of building facades and storefront rehabilitation. Viktor Schrader, OPDC vice president, said the grant program carries a "big emphasis on preservation."

"We always try to pull pictures of the original facade and encourage building owners to include elements of it in order to maintain a historic look," Schrader said.

Grants will be awarded for up to 50 percent of the first $5,000 for an eligible project cost and 25 percent after that. The grants are capped at $25,000 for buildings along Madison Street and $10,000 for all other Oak Park locations.

Funding for the Madison Street project comes from the Madison Street Tax Increment Financing (TIF) district, while money for the remainder of potential projects is from the village's general fund, Schrader said.

It's important to note that only prospective projects will be considered by the program administrators. In other words, it's likely you won't be reimbursed for a project that's already completed.

Organizers say all commercial properties in Oak Park are available, but applicants must have a minimum three-year lease. And applicants for the 2012 grants will have to ensure all of their permitting and licensing paperwork is completed and accurate. The application and guidelines can be found at the OPDC website; they're also posted here as PDFs available for download.

Applications will be reviewed by a four-person panel — two from the OPDC, two from the village. Grant program manager Michelle Uhler would not disclose the names of the members of the panel, citing a need to prevent lobbying on the part of applicants.

Past grant recipients include Kinderhook Tap, Seven Ocean, Crumbs Bakery, Lake Street Kitchen + Bar and Intuit Dance.

"Grant support for these commercial projects results in increased sales tax revenues and property taxes for Oak Park, and promotes both new business and the retention, revitalization and expansion of existing Oak Park businesses," OPDC president Sarah Faust said in a statement.

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