VILLAGE OF OAK PARK TO LAUNCH COMMERCIAL FAÇADE IMPROVEMENT GRANT PROGRAM ON JULY 18, 2018
The Oak Park Village Board has approved a new 50/50 Commercial Facade Improvement Grant Program (C-FIP) to promote reinvestment in Oak Park commercial buildings, with a focus on supporting historic preservation practices. The program is intended to assist both property owners and tenants in the rehabilitation and restoration of the visible exterior (façade fronting a public right-of-way) of existing commercial buildings.
Grants will be made available to qualified commercial property owners or commercial tenants, who have documented permission from the property owner. Grants are being made available by the Village in recognition of the positive impact that new façade improvements can have on the appearance and vitality of the community. Funds are limited and will be designated to those projects that fully complete the Village’s application process prior to all grant funds being designated.
Properties that qualify for this grant include commercial buildings with primarily first floor retail use. Commercial building owners or tenants must be able to document that retail sales comprise at least 51% of the first floor businesses gross revenues.
The 50/50 façade grant program is reimbursement based. As an example, the property owner or tenant must pay their architect, contractors, suppliers, etc., prior to being reimbursed by the Village for the qualified and approved work. The minimum façade improvement investment, by the property owner or tenant, is $2,500. The maximum façade grant payment that a property owner or tenant can receive from the Village is $5,000.00, per visible facade fronting a public right-of-way.
Questions regarding the Village’s new 50/50 Commercial Façade Improvement Grant Program can be directed to Cameron Davis, Assistant Director, Development Customer Services Department, 708.358.5421. Applications for the C-FIP program will be available at Village Hall beginning on July 18, 2018.