Downtown Restaurant Forgivable Loans
The Downtown Restaurant Forgivable Loan Program offers a forgivable loan for up to one-third (1/3) of the costs associated with the revovation of storefront or office space for use as a sit down restaurant with a maximum award of $100,000. Restaurants are considered desirable uses in that they can create more activity after business hours and bring more pedestrian traffic by other businesses. The intention of the program is to create a more viable and attractive area through private/public partnership. An eligible business must earn at least sixty-five percent (65%) of its gross income from food and beverage sales. Businesses offering exclusivly carry-out or delivery service are not
Downtown Retail Business Grants
The Downtown Retail Business Grant Program offers a 50% matching grant (capped at $20,000) for eligible expenditures associated with helping the start-up of new businesses or the expansion of existing businesses in the downtown. Priority is given to retain businesses that best compliment the downtown Lombard plan. Resale stores and service businesses are not eligible for the program.
Downtown Improvement and Renovation Grants
The Downtown Improvement and Renovation Grant Program offers a 50% matching grant to eligible property owners or businesses. Eligible improvements include facade renovations, lighting, signage, windows, doors, awnings, landscaping and parking improvements.
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