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City of Chicago - Small Business Improvement Fund (Illinois)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt 25%, 50%, or 75% of the costs, depending on size of the applicant. The typical average grant amount is 40,000.  +
Incentive/ApplDsc Commercial  + , Industrial  + , Tenant of commercial/industrial  +
Incentive/ContAddr 601 South LaSalle  +
Incentive/ContAddr2 Suite 510  +
Incentive/ContDept SomerCor 504 Inc.  +
Incentive/ContEmail dwalvoord@somercor.com  +
Incentive/ContName Derek Walvoord  +
Incentive/ContPhone (312) 360-3300  +
Incentive/ContPlace Chicago, Illinois  +
Incentive/ContWebsite http://www.somercor.com/index.php  +
Incentive/ContZip 60605  +
Incentive/EnergyCat Renewable Energy Incentive Programs  + , Energy Efficiency Incentive Programs  +
Incentive/ImplSector Local  +
Incentive/InstallReqs Must be located in a Tax Increment Financing District (TIF)  +
Incentive/MaxInc Industrial property: 150,000<br /> Single owner/tenant commercial property or landlord: 100,000<br /> Multi-tenant building: 250,000 per property, 50,000 per tenant/landlord  +
Incentive/Name City of Chicago - Small Business Improvement Fund  +
Incentive/ProgAdmin SomerCor 504 Inc.  +
Incentive/Summary SomerCor 504 Inc. administers the Small Bu …
SomerCor 504 Inc. administers the Small Business Improvement Fund for the City of Chicago. The fund utilizes revenue from Tax Increment Financing (TIF) and supports commercial and industrial properties, as well as tenants, within specific TIF districts to upgrade their facilities. Certain energy efficient upgrades, such as energy efficient windows, HVAC systems, and roofs may qualify for funding under this program and are encouraged.<br> <br> The grants can cover up to 75% of the costs of the upgrades and are paid after the work is completed and expenses paid-up. Commercial applicants are eligible if they have a maximum of $5 million in gross sales for each of the past three years. New commercial businesses must use projected sales. Industrial applicants may not employ more than 100 full-time equivalent employees. Landlord applicants may not have more than a net worth of $6 million, with total liquidity of no more than $500,000. Tenant applicants may not have more than $5 million in gross sales, and must have a leasehold interest in the property with at least 3 years remaining on the lease term. Additional eligibility requirements applicable, interested parties should contact SomerCor 504 Inc for additional details.
t SomerCor 504 Inc for additional details.  +
Incentive/TechDsc Equipment Insulation + , Lighting + , Chillers + , Furnaces + , Boilers + , Heat pumps + , Central Air conditioners + , Programmable Thermostats + , Energy Mgmt. Systems/Building Controls + , Windows + , Roofs + , Solar Water Heat + , Photovoltaics +
Incentive/Type Local Grant Program +
OpenEI/PageDescription City of Chicago - Small Business Improvement Fund: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Illinois  + , Local Grant Program  + , SomerCor 504 Inc.  +
Place Illinois: Energy Resources +
Website http://www.somercor.com/sbif/  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
09:26:25, 17 December 2014  +
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