In 2012, $150,000 was set aside by the Village of Palatine to assist businesses located in the downtown TIF district to improve facades while retaining the character of the area.
Currently, nine property and/or business owners are taking advantage of the funds made available in 2012, which includes a 50/50 matching reimbursement for facade improvements. The process began in late 2011 and applications were considered by the Palatine Village Council.
The businesses include:
- TJ O'Brien's
- Monson Jewelers
- Foxglove Cottage
- The Music Room
- Properties on the east side of Benton Street, between Palatine Road and Railroad Avenue
The Facade program is specificially meant to assist with exterior remodeling, and renovation of existing buildings in the Downtown TIF District. It is roughly bordered on the north by Colfax, to slightly south of Palatine Road (including the Dobby's property), on the east just east of Plum Grove Road and west to near Smith Street.
Eligible and reimbursable expenses include facade renovations or improvements, awnings, windows and doors, and attached lighting and signage.
Professional design fees and permit fees also are part of investments that business and property owners can be reimbursed for through the matching program.
Ineligible expenses are landscaping or paving, routine property maintenance and changes that the Palatine village council determines do not fit with the character of downtown.
The funding is based on $400 per linear foot of the building's frontage on a public street. The maximum grant amount is $50,000 per building.
Improvements must be made within a 12-month period, and are subject to approval through an application process.
In the 2013 budget, there is an equivalent level of funding, but Deputy Village Manager Mike Jacobs said if there is increased interest, the village will work to increase the amount of matching grants available.
For more infromation, visit the Village of Palatine website or call Mike Jacobs, at 847-359-9053.