Building Improvement Loan Program
The Building Improvement Loan ("BIL") program aims to assist property owners improve the appearance and physical structure of their properties. It is the Village's intent to match the dollar amount that applicants contribute to an approved project. The Village's matching portion is provided by a dedicated loan fund that was established through a 1980s Federal grant program. Local tax funds are not used in funding this program.
There are two project classifications for the BIL program. First is the Fascade Renovation. Projects in this classification focus on the structural repair and restoration of the street-facing exteriors of commercial, industrial, and landmark buildings in the Village. These projects can be approved in amounts up to $5,000. The second is the Adaptive Reuse. These projects focus on structural update and repurposing of an existing building or site. Projects under this definition can receive up to $25,000.
The Village invites property owners to utilize this program to improve our community. The BIL policy and application forms are attached for review and consideration.