The City’s Small Business Improvement Fund (SBIF) will be renewed in three Tax Increment Financing (TIF) districts and expanded into one new TIF district under a plan approved today by City Council.

The SBIF program provides matching grants up to $150,000 to help owners of commercial and industrial properties within specific TIF districts repair or remodel their facilities.

The plan will reallocate $500,000 each for SBIF funding in the 35th/Halsted and Lawrence/Pulaski TIF districts; and $1 million in the Kinzie TIF District. For the first time, $300,000 will be allocated in the Archer/Western TIF district.

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 assistance is provided upon project completion and does not have to be repaid.

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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