Submitted By
Tammie Grossman, Director of Development Customer Services
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Approving Amendments to the the Village of Oak Park's Commercial Fa?ade Improvement Grant Program Guidelines
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Overview
Overview
The purpose of the Commercial Fa?ade Improvement Grant Program (C-FIP) is to promote reinvestment in the Village's commercial buildings, with a focus on supporting historic preservation practices. The C-FIP has been in place for 17 months and this resolution is recommending one amendment to the program's guidelines that allows for the expansion of program eligibility.
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Recommendation
Recommendation
Approve the Resolution Amending the existing Commercial Fa?ade Improvement Program (C-FIP) Guidelines
Fiscal Impact
The approval of this recommended amendment to the C-FIP guidelines will have no additional fiscal impact to the Village. The Village Board approved a budget of $50,000 for this program in GL account 1001-46206-101-585651.
Background
The Village's Commercial Fa?ade Improvement Grant Program (C-FIP) is a tremendous success. In 2018, four local businesses (Geppettos, Buzz Caf?, P.J's Ace Hardware and Taco' Bro's) leveraged the Village's program to make important improvements to their business facades. Thus far in 2019, six local businesses (Sweet Monster, Personalization House, Flourish, The Daly Bagel, Family Fresh Deli and Quadrant Motors) have either completed or are in the process of completing fa?ade improvements. Additionally, two Oak Park businesses are now working on new applications. The goal of the recommended amendment is to slightly adjust the C-FIP guidelines in order to keep improving upon the programs ongoing success.
Property owners and/or first floor commercial tenants qualify for the C-FIP program if they are able to document that their retail sales either currently comprise, or in the case of new businesses, will comprise, at least 51% of the operations gro...
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