The Aurora’s Finish Line Grant Program offers gap financing solutions to commercial businesses and property owners seeking to complete permanent property rehabilitation and improvement projects.
Donor Name: Invest Aurora
State: Illinois
County: All Counties
Type of Grant: Grant | Reimbursement
Deadline: (mm/dd/yyyy) 07/19/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
The Purpose of the Finish Line Grant Program is to increase the economic viability of the City of Aurora by assisting business and property owners in their completion of commercial rehabilitation projects. The Finish Line Grant Committee will consider each case on its individual merits.
Funding Information
A project up to a maximum grant amount of $50,000.
Geographic Areas
Eligible rehabilitation projects must be performed on commercial properties located within the limits of the City of Aurora.
Qualified Expenses
Qualified Expenses that are eligible for reimbursement under the Finish Line Grant are:
- Build out costs for new or expanded retail space resulting in fixed capital improvements that will remain permanent to the property.
- Building materials
- Internal and external lighting
- HVAC, electrical, and plumbing new system installation and upgrades only
- Exterior signage
- Repair/rehabilitation of building exterior, including tuckpointing
Qualifications Eligibility Criteria
The property proposed for rehabilitation must be zoned for commercial use and be located within the limits of the City of Aurora. To be eligible for reimbursement of project costs under this grant program, the following requirements and conditions must be met:
- Control of the property must be proven.
- Good Standing with the City of Aurora must be established.
- No existing code violations on the subject property must be proven.
- All required permits and certificates must be issued by the COA before funds will be distributed
- Project cost must exceed $5,000
- Only Qualified Expenses will be reimbursed.
- Projects started prior to April 15, 2024 are not eligible
- Business must generate retail sales tax (51% of annual revenue must generate sales tax – annual sales tax reporting required)
- All work must be permanent to the building.
For more information, visit Invest Aurora Illinois.
