A previous Small Business Improvement Fund (SBIF) grant helped the Aquinas Literacy Center, 1751 W. 35th St., Chicago, remake and beautify the facade of its building.

Small Business Grants Opening Up for Archer/Western TIF in McKinley Park

Published March 19, 2021

The City of Chicago's Small Business Improvement Fund (SBIF) will soon be accepting applications for six-figure grants for businesses in the Archer/Western Tax Increment Financing (TIF) district, an area that covers many of McKinley Park's commercial corridors. Grants for up to $150,000 will be available for commercial businesses and grants for up to $250,000 for industrial businesses.

Business Grows Here - Space - Resources - Community

The SBIF program offers property owners in select areas support for permanent improvements and building repairs like renovating storefronts, replacing roofs and remodeling interiors. Commercial businesses can get grants for 30 percent, 60 percent, or 90 percent of a project's cost, and industrial firms with 200 or fewer employees can go for grants covering up to 50 percent of the cost of the improvement project.

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McKinley Park TIF districts Archer Western TIF mapA screen capture from the City of Chicago's TIF map shows the Archer/Western TIF area in light blue alongside the McKinley Park neighborhood's other two TIF districts.Applicants must have a valid City of Chicago business license, be current with property taxes and have no debt owed to the city. The application process is run for the city by SomerCor, which maintains a SBIF web page at somercor.com/sibf with program information, support materials and the application form. Applications will be accepted from 9 a.m. on Thursday, April 1, 2021, until 5 p.m. on Monday, May 3.

April 7 Seminar

The City of Chicago's SBIF page, accessible at chicago.gov/sbif, presents information on the scheduled SBIF program rollout across multiple TIF districts citywide. An online seminar highlighting the SBIF program for the Archer/Western TIF is set for 1 p.m. on Wednesday, April 7; click here to register.

As reported here in the McKinley Park News, past SBIF program funds have gone to improve the facade of the Aquinas Literacy Center at 1751 W. 35th St., Chicago, and for roof and masonry repairs at Topnotch Silkscreening, 3382 S. Archer Ave.

Business Grows Here - Space - Resources - Community

Other McKinley Park improvements funded by the Archer/Western TIF — which also extends into the adjacent Bridgeport neighborhood — have included sidewalk improvements in the 1600 block of West 32nd Street and the McKinley Dog Park, which was a cooperative project with the Chicago Park District.

Archer Western TIF Chicago DPD SBIF April 2021 grants poster

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