Want $25K to spruce up your building in the Dundee Crossings district? East Dundee offering grants
East Dundee is offering grant funding to spur private investment and improve the overall appearance of its key commercial corridors.
Through July 15, business and property owners within the village's Dundee Crossings business development district can apply to receive up to $25,000 in matching funds to complete facade upgrades or external renovations.
The goal is to improve the area's viability, increase property values and encourage economic development, Village Administrator Jennifer Johnsen said.
"It really jump-starts projects where the property owner or business owner would otherwise sit on it a year or two," Johnsen said. "It motivates them to get it done, and it's really the most visible type of redevelopment."
The grant funding is available through the village's 0.75% sales tax imposed within the business development district that covers large portions of routes 72 and 25 and the downtown area.
East Dundee budgeted for one commercial grant for the 2019-20 fiscal year, Johnsen said, though officials are prepared to discuss allocating additional funding to the program depending on the applications they receive.
Eligible improvements can include new or repaired siding, front patios or porches, exterior lighting, fences, painting, brick restoration and walkways, among others. Grants for selected projects will be paid in the form of a reimbursement, as long as the work is completed by the end of March 2020, Johnsen said.
"The board is so motivated to see progress," she said, pointing to various downtown improvements and economic incentives offered in the last several years. "(That) alone shows their motivation to keep reinvesting in the town."
East Dundee previously saw success with a similar program that helped pay for commercial facade upgrades using tax increment financing funds, or incremental property tax revenues generated within a certain area. That program, however, was halted in 2017 due to funding restraints and some outstanding payments that had yet to be processed, Johnsen said.
After hearing from several interested businesses and property owners, the village launched the revamped facade improvement program this month with a new funding method, a lower maximum grant amount and comprehensive policies for how it should be managed.
Because projects must be completed by next spring, Johnsen said the village is looking for applicants with "shovel-ready" projects and adequate funding in place to cover their 50% match.
Those that aren't ready for this year are still encouraged to apply, she said, so village officials will have an idea of how many grants they want to fund next fiscal year, which begins May 1.
"It doesn't hurt them to throw an idea out there, so that we have it on our radar," Johnsen said, noting she also can help guide applicants through the process or offer feedback on their proposed improvements.
Village staff members will evaluate each application and recommend to the village board which projects should receive funding. Trustees will vote on the grant recipients in August, documents show.
Additional information on the program policies and application process is available on East Dundee's website.