Submitted By
Tammie Grossman, Director, Development Customer Services
Reviewed By
A.M. Zayyad, Deputy Village Manager
Agenda Item Title
Title
A Resolution Approving and Adopting Amendments to the Village of Oak Park's Commercial Fa?ade Improvement Grant Program Guidelines
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Overview
Overview
The current Village of Oak Park Commercial Fa?ade Improvement Program (C-FIP) was established by the Village Board in 2018. The purpose of the program is to promote reinvestment in Oak Park commercial buildings. Since 2018, the Village has awarded twenty (20) grants to Oak Park businesses or commercial property owners in support of the installation of new awnings, signage, windows, doors, and lighting improvements. The C-FIP has been in place for fifty-nine (59) months and was amended once, expanding program eligibility, in 2019. This proposed resolution is recommending several amendments to the program's guidelines that will allow for the continued expansion of C-FIP program eligibility.
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Recommendation
Recommendation
Approve the recommended resolution or request additional information from Village staff.
Background
The current Village of Oak Park Commercial Fa?ade Improvement Program (C-FIP) was established by the Village Board in 2018. The purpose of the program is to promote reinvestment in Oak Park's commercial buildings. In particular, the existing guidelines allow the participation of business or commercial property with primarily first-floor "sales tax generating" storefronts. Per existing guidelines, business or building owners must either currently be able to document that retail sales comprise at least 51% of the first-floor business gross revenues or that the business generates significant combined municipal sales tax and home-rule sales tax that equals at least $15,000 a year and over.
Since 2018, the Village has awarded twenty (20) grants to Oak Park businesses in support of the installation of new awnings, signage, windows, doors, and light...
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