Palatine to offer downtown building owners grants to fund exterior upgrades
Palatine village council members supported a plan Monday to offer tax increment financing district dollars to help owners of older commercial properties downtown invest in exterior renovations.
Buildings within the TIF district that were constructed prior to 2000, with the majority of the first floor devoted to nonresidential, sales tax-generating uses, will be eligible. The village would grant up to $1,000 per linear foot of a building's frontage onto a public street, with a maximum grant of $50,000 per building. An additional $500 per linear foot would be available for a building that is more than one story tall, with the grant capped at $75,000.
by signing up you agree to our terms of service Eligible work would include facade renovations, tuck-pointing, masonry repair, new exterior awnings, doors, windows, lighting and signage, and rebuilt front walls and foundations.
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