COOL ROOFS / GREEN ROOFS GRANT. The City of Chicago is issuing grants of up to $6000 towards the cost of installing a cool roof, while grants of up to $5000 are available towards the cost of installing a green roof. Industrial, residential and commercial buildings are eligible, and a limited number of grants will also be available to schools.
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Cool Roofs are white, highly reflective roof. A coating can be applied to existing roofs to make them reflective. The coating can be applied for $2.00-$2.50/sf. The grant match is between $.50 - $.80/sf, depending on the type of coating they use. These roofs will lower utility costs and also help reduce the urban heat island effect.
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Green Roofs are vegetated roofs that also lower utility costs, help absorb stormwater and reduce the urban heat island effect. They can be installed for $10-12/sf. The green roof grant is for up to $5000.
Click on Cool Roofs / Green Roofs Grants for details and applications.
FINANCIAL ASSISTANCE FOR BUSINESS BOOKLET. Businesses located in the Peterson Pulaski Corridor can qualify for a number of business incentive programs such as Tax Increment Financing (TIF), low interest loans, grants, bond issues, site assistance, property tax assistance, facade rebate and enterprise zone benefits.
The City's Department of Planning published a comprehensive booklet detailing the wide array of financial assistance programs to start, expand and relocate companies in Chicago. Click on Financial Assistance For Business to view the entire booklet including relevant maps.
Parties interested in the City's financial assistance programs are encouraged to meet with representatives of the Department of Planning's Development Support Services to determine eligibility; 312-744-4389.
SMALL BUSINESS IMPROVEMENT FUND (SBIF). This program uses Tax Increment Financing (TIF) revenues to help owners of commercial and industrial properties and/or tenants within the Peterson Pulaski TIF district to repair or remodel their facilties. Eligible businesses can receive a reimbursing grant to cover up to 75% of the cost of remodeling work, with a maximum grant amount of $150,000. The grant does not have to be repaid. Industrial companies must have under 100 employees to qualify.
Applications are processed by SomerCor 504, a federally certified Small Business Administration lender. For more details, click on SomerCor or call John Paulun at 312-360-3300.
Some of the exterior, interior and systems work eligible for a SBIF include:
- New windows, floors or roof, lighting systems, interior renovations
- Sign removal and replacement
- Tuck pointing, structural improvements
- Parking lot paving, wrought iron fencing, acquisition of property for parking
- New heating, venilation and air conditioning
- Improvements to accommodate disabled patrons or workers
- Purchase of adjacent property for building expansion or parking
- Sidewalks, permanent landscaping, public beautification efforts
TAX INCREMENT FINANCING (TIF). Tax Increment Financing is one of many tools that the City uses to help businesses grow, compete, create jobs and provide products and services to Chicagoans. Here are some business costs eligible for TIF reimbursement:
- land acquisition
- public improvements
- site preparation (street, sewer, water, viaduct, etc.)
- environmental remediation
- studies and surveys
- building rehabilitation or repair
- relocation costs
- job training / retraining
- certain financing costs
Although new, private construction and purchase of machinery and equipment are not eligible costs under TIF guidelines the CIty of Chicago offers other programs to assist businesses with these types of costs.
Click on the Illinois Tax Increment Association to learn more about TIF.
Click on the TIF Application Materials Packet.
TIFWORKS EMPLOYEE TRAINING ASSISTANCE. Businesses located within the Peterson Pulaski TIF District can use TIFWorks funds to pay for training related to new product lines, equipment upgrades, English as a Second Language instruction, and more. Click on TIFWorks -- Investing in Chicago's Workforce for more information.
PLANT & OPERATIONS IMPROVEMENT ASSISTANCE.
Lean Manufacturing. Chicago Manufacturing Center offers Lean Manufacturing training designed to help businesses identify and eliminate waste through continuous improvement; 312-542-0500.
Plant Optimization Study. William Maurer of Illinois Institute of Technology assists companies with plant optimization studies to implement efficient space usage. Half of his services are paid by the city; 847-254-1162.
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