Oak Park’s village board heard proposals from village staff last week about a new grant program that would support local businesses.
Village staff proposed three new grant programs to support businesses making physical improvements to their spaces. The proposed grants would support small businesses updating their fire safety systems, making investments to be more climate friendly or improving the interiors of their storefronts, according to village staff.
The proposal comes after village staff heard from business owners looking for financial help from the village to help them comply with Oak Park codes and thrive in the community, according to village staff.
“Staff have received an increase of inquiries from business owners who need financial support to adhere to certain village requirements,” staff wrote in documents supporting the agenda item. “This action would alleviate some financial burden from small-business owners for unexpected costs as they navigate through the municipal process.”
The three new proposed grants would cover 50% of a businesses’ investment into its fire safety, environmental sustainability or interior facade up to a certain maximum dollar amount depending on the category of improvement, according to the proposal.
Climate improvement grants could be issued for a 50% price match up to $6,000 and be used to help cover investments in things like energy efficient lighting, zero-waste programs, solar panel installation and more, according to the proposal. This grant would be available to any business or commercial property owner in the village, but if an applicant’s business operates in a space that’s 10,000 square feet or larger then it must be in compliance with the village’s energy benchmarking ordinance to receive the grant support.
Fire safety improvement grants could be issued for a 50% match up to $3,500 and be used by businesses to support the installation of a new fire alarm or sprinkler system or help cover the cost of bringing existing fire safety systems up to village code, according to the proposal.
The interior storefront improvement grants could be issued for a 50% match up to $5,000 and be used to cover improvements including new HVAC system improvements, plumbing improvements, painting, flooring and more, according to the proposal. These grants would only be available to new businesses that produce sales tax revenue, as is the case for the exterior commercial facade improvement grant program the village has had on its books since 2018.