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Village Vision News

TIF grant program dollars available

Thursday, August 30, 2018

Matching funds offered, application required

If you have a business located within the tax increment financing district, or TIF district, and you’d like to improve its exterior, help is on the way.

At the August 20 Board meeting, trustees made an investment in business redevelopment efforts in the TIF district by adopting the Commercial Revitalization TIF Grant Program.

The program, funded by the Village’s TIF fund, allows for businesses within the TIF district to receive 50 percent matching fund grants — up to $10,000 — to be used for making various improvements to their exteriors, facades, attached signage, lighting, landscaping, and other similar exterior aesthetic upgrades.

For calendar year 2018, the inaugural year of the program, $30,000 has been designated to fund the program; that’s the equivalent of three projects at the maximum grant amount.

There is an application process that is required to participate in the program. Applications will be considered and approved by the Village Board.

“We’re fortunate that, in general, businesses in Forsyth are already attractive and well-maintained,” said the Village’s Community and Economic Development Coordinator Andrew Zupkoff. “For businesses that do have some wear and tear, or that simply want to look even better, this program generates an incentive for them to make improvements to their properties.”

In voting to adopt the program, trustees were enthusiastic.

“This is a great use of our TIF district funds,” Trustee Jim Peck said, adding that he agreed that most local businesses in Forsyth already look good.

“We talk about bringing new businesses here, but we have to keep the businesses that we have happy and give them an avenue for sprucing up,” Trustee David Wendt said. “So, I like it.”

Village Administrator David Strohl noted that going forward the amount of money available will depend on how much is in the TIF.

“This year, we’ll get $90,000 in TIF funds,” Strohl said.

Keeping businesses looking nice, as fundamental as that might sound, is a positive on several levels.

“Grant improvements will help individual businesses, as well as bolster Forsyth’s longstanding reputation for being a clean, attractive and safe place to do business,” Zupkoff said.

Applications are being accepted immediately and are available at Village Hall, or online at www.forsythvillage.us. 


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