Building Improvement Loan Program Adopted
January 2, 2018
The Board of Trustees has passed a resolution restructuring the Building Improvement Loan (BIL) Program. This program aims to help property owners improve the appearance and physical structure of qualifying properties.
Two different projects types are expected to be available for funding:
Façade Renovation - This program includes projects that address the structural repair, maintenance, and preservation for street-facing exteriors of commercial, industrial, historical, and landmark buildings within the Village. Loans range from $500-$2,500.
Adaptive Reuse – This program includes construction efforts that re-use a pre-existing building or site within the Village for a purpose other than what it was originally built or designed for or to significantly update the physical nature of the building to improve utilization of the space. Loans range from $2,500-$25,000.