Chicago’s Small Business Improvement Fund (SBIF) will be renewed in four West and Northwest Side Tax Increment Financing (TIF) districts under a plan approved today by City Council. 

The plan will reallocate $500,000 each for existing SBIF programs in the Austin Commercial, Belmont/Central, and Portage Park TIF districts and $1 million for the Northwest Industrial Corridor TIF district.

SBIF provides matching grants of up to $150,000 to help owners of commercial and industrial properties within specific TIF districts repair or remodel their facilities. The assistance is provided upon project completion and does not have to be repaid. 

Grants cover a range of building improvements including roofs, facades, storefront renovations, interior remodeling, heating and air conditioning systems, ADA-related amenities, and other upgrades. 

The SBIF program operates in 92 of the City's 147 TIF districts, which provide financing for local redevelopment and public improvement projects. 

For more information about SBIF, visit www.cityofchicago.org/tif.

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