Libertyville looks to strengthen business through grant program
Libertyville recently approved a program to strengthen existing businesses and encourage facade or site improvements.
Village officials included $100,000 in discretionary funds in the 2023-24 budget for a business grant program. The village staff and the advisory economic development commission over the past two months have been working out details.
The recommended result, officially approved Tuesday, is a two-part program offering matching grants for a variety of eligible expenses. Three-quarters of the total is targeted for property enhancements with 25% designed to encourage business, growth, expansion or sustainability.
"It's a first for the village," said Heather Rowe, economic development manager. "We're hoping this is the start of a program that will be evolving and continuing."
Facade & Property Enhancement grants will be limited to commercial corridors outside the main downtown area, including Milwaukee Avenue, Route 176 and Peterson Road, not including car dealerships or strip centers.
Unlike downtown, where there has been a lot of building and facade investment, some smaller parcels along south Milwaukee Avenue "would be a perfect example of a business (area) that would benefit from a design and facade program," according to Rowe.
The facade grant will match up to $25,000 to renovate dated or deteriorated facades or sites on commercial buildings or structures with first-floor businesses. Up to $5,000 may apply to design-related costs.
Improvements must be visible from the road and can include doors, windows, landscaping, a permanent outdoor dining area, lighting and other upgrades.
Work must be part of a larger exterior improvement and not replacement or maintenance, according to the guidelines.
Eligibility is limited to "sales tax-producing, brick and mortar establishments," according to the guidelines.
Tenants must have a minimum five-year lease if the building isn't owner-occupied.
Business resiliency grants are up to $5,000 and are not geographically limited. They can be used to hire staff or acquire equipment or technology to increase productivity or efficiency.
Other eligible expenses could involve adding or improving online sales platforms or digital advertising campaigns, and developing a marketing or succession plan.
"If they can invest and we can help them do that and they succeed, we succeed," said Rowe.
Jennifer Johnson, executive director of MainStreet Libertyville, said inflation has forced business owners to make tough choices on business investments.
"These grants will allow business owners to think creatively and put forth new ideas or opportunities that may have previously been cost prohibitive," she added.
Applications will be posted at libertyville.com later this fall, and businesses will be notified of the support programs, Rowe said.