SBIF ALERT - New Districts and Funding
Building Renovation Grants - Up to $150,000
In This Issue
Kinzie Industrial Refund
Touhy/Western - New
Hollywood/Sheridan and Lawrence/Broadway - New
Elston/Armstrong - New
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SBIF Director Derek Walvoord
Derek
Please call or email Derek if you have any questions about SBIF
312-360-3319
dwalvoord@somercor.com
email
 

SBIF Director
John Paulun


John Paulun

312-360-3305
jpaulun@somercor.com
email


Greetings!

The City is adding new SBIF Districts! The SBIF - Small Business Improvement Fund - is a City of Chicago TIF-based grant for building renovation.  Applicants can get grants of up to  $150,000, with up to 75% of their rehab costs rebated.  SBIF can fund interior and exterior permanent renovation projects to buildings in certain City of Chicago TIF districts. These are grants, not loans, and do not have to be repaid.  The applicant can own the building or be a tenant.
Kinzie Industrial Corridor Refunding
 
The Kinzie industrial corridor is one of our most popular SBIF districts.  We are rolling out the refunding of this area at Alderman Burnett's 27th Ward Business Expo on Thursday, June 4'th from 10 AM to 3 PM.  The Expo is at the United Center at 1901 W. Madison.  Please join us there for more information. 

Applications are due on July 6th for first consideration, and in the event that a lottery for the area is needed.

 
Touhy/Western SBIF - New Area!

The Touhy Western SBIF is a brand new SBIF/TIF area.  We are excited that its residents will be able to now participate in our program.  The public informational meeting will be on Monday, June 8th at 3pm at the Buckingham Pavilion located at 2625 W. Touhy Avenue, Chicago, IL 60645.  The meeting will be in the facilities theater.  We would like to thank Amie Zander from the West Ridge Chamber of Commerce for helping us set up this meeting. 

Applications are due on July 8th for first consideration, and in the event that a lottery for the area is needed.

 
Hollywood/Sheridan and Lawrence/Broadway - Two new areas! 

These new areas will be jointly opened on Tuesday, June 9th from 8 A.M. to 10 A.M., at the Broadway Armory on the 2nd Floor.  The Armory is located at 5917 N. Broadway, Chicago, IL 60660.  Please join us at this event, hosted by Edgewater Development Company, Edgewater Chamber of Commerce, the Uptown Chamber of Commerce, and Uptown United.

A second informational meeting will be held for these two areas at Combined Insurance at 5050 N. Broadway (formerly Aon) on Thursday, May 21
at 8:30am. Parking is available in the parking structure on the east side of Broadway.

Applications are due on July 9th for first consideration, and in the event that a lottery for the area is needed.
Elston/Armstrong

The Elston/Armstrong SBIF kick off will be on Monday, June 29, 2009 at Mike's Sports (5544 W. Armstrong) from 8:00 am  - 9:30 am.  Please join us for our public informational meeting. Special thanks to the Alliance for Illinois Manufacturing.

Applications are due on July 29th for first consideration, and in the event that a lottery for the area is needed.

Thanks for looking at our E-Newsletter.  Please tell your friends, coworkers, acquaintances, or anyone that might be interested in our exciting grant program.  We rely on you to let others know about the program.  And, as always, please feel free to contact Derek at 312-360-3319 or email at dwalvoord@somercor.com.  John at 312-360-3395, email at jpaulun@somercor.com.  Or Silvia at 312-360-3334, email at ssanchez@somercor.com.  Call to find out if your business is in a SBIF District or to see if you would qualify.
 
Sincerely,

Derek Walvoord, John Paulun and Silvia Sanchez
SBIF Team