AUSTIN COMMERCIAL TIF
City of Chicago Small Business Improvement Fund Application Rollout
The Small Business Improvement Fund, or SBIF, is a City of Chicago grant program intended to
help small business owners renovate, expand, or start-up businesses along commercial
corridors in Chicago neighborhoods. Small business owners and property owners that lease to
small businesses in the Austin Commercial SBIF can receive reimbursement grants of up to
$100,000 to cover the cost of approved remodeling work. Join local delegate agencies and the
Aldermen of the 37th and 29th Wards at the Rollout to learn more about the SBIF program!
WHEN: Noon, December 4th, 2017
WHERE: The Community Room, 4926 W. Chicago Ave.
The Application Period for the Austin Commercial SBIF will be 12/4/2017 to 1/5/2018 at 5 p.m.
The Rollout meeting will be hosted by Alderman Mitts of the 37th Ward and Alderman Taliaferro
of the 29th Ward. Admission is free and there is no RSVP needed.
The Austin Commercial TIF district encompasses four main commercial corridors within the community that suffer from vacancies, dilapidation and various non-retail uses. The goal of the TIF is to help transition portions of North Avenue, Division Street, Chicago Avenue, and Central Avenue into strong and viable shopping districts that serve Austin's residential community and, in turn, fosters residential investment. As a means of attracting viable regional and local stores to the area, TIF funds are intended to support the assembly of land into sufficient sizes for contemporary projects, also to rehabilitate existing structures. Additionally, the 256-acre district is designed to support new infrastructure improvements and corridor beautification efforts, and to provide incentives for residential projects that accommodate the community's low-income residents.
Rollout meeting will be hosted by Alderman Mitts and Alderman Taliafero. Attendance of the meeting is not a requirement to apply, but it will be very helpful to those who are interested in applying but may have questions. We hope to see you there!!