SBIF GRAM - September Highlights
Building Renovation Grants - Up to $150,000
In This Issue
Logan Square Kitchen
New Rollouts and Areas
Historic Copper Work on Cottage Grove
New Rule Changes Regarding Previous City of Chicago Funding
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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


SBIF Assistant Director
Silvia Sanchez

312-360-3334
ssanchez@somercor.com
email



Greetings!

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.

We are very excited to announce that the SBIF is making it easier to stay organized with new software, Basecamp HQ. 

In addition, the City continues to refund and add new SBIF Districts!
Logan Square Kitchen

The Logan Square Kitchen is "a private event space and a shared commercial kitchen available on an hourly basis."  Zina Murray created a beautiful space on Milwaukee Avenue out of a dilapidated building.  She gets this months green design award.  She is going for a LEED Gold rating.  She has done a great deal of design work to make it a green space, including reusing as much building material as possible.

LS Kitch Outside


  
New Rollouts and Areas!

New Funding and Informational Meetings

Pulaski Industrial
(Second Round of Funding)
Thursday, October 1st, 9:00 am, Banco Popular, 4000 W. North Ave. Parking: lot north of building
Chicago/Central Park
(Second Round of Funding)
Friday, October 2nd, 10am, Kelly Hall YMCA, 824 N. Hamlin
Parking: YMCA lot or street


Previously Released New Areas and Deadlines
Peterson Pulaski
(Second Round of Funding)
Deadline for first consideration - Oct. 23

Near West
(New SBIF Area!)
Deadline for first consideration - Oct. 14



Historic Copper Light Wells Redone on Cottage Grove

Extensive work is going into the building at 4030 S. Cottage Grove Avenue.  Part of the completed work is a restoration of the window bays in copper, the tuck pointing also looks great.  Beautiful work! 

 

farq after
 

 
New Rule Change regarding other City Funding

The City has changed the SBIF rules regarding other City of Chicago Funding.  The rules previously stated that if the SBIF Grant recipient had received any other City of Chicago funding, besides SBIF and Facade Rebate, they were ineligible for the grant.  The rules now state that any other City funding will be subtracted from the possible $150K grant.  So, for example, if a building owner received $5K for a green roof grant, they would now be eligible for $145K in SBIF funding.


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 312-360-3305 or jpaulun@somercor.com.  And Silvia at 312-360-3334, or 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, the SBIF Team