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Small-business TIFASI request: 14 South Lincoln Way seeks $20,000 rebate; board discusses cap and possible review
Summary
An owner of 14 South Lincoln Way requested the TIFASI rebate maximum of $20,000 (up to 50% of project) to re-side a building after contractor quotes exceeded $40,000. Staff noted the $20,000 cap dates to the TIF's start and said the board could revisit policy or consider individual exceptions.
Steve, a village staff member, introduced a TIFASI grant/rebate request from 14 South Lincoln Way during the Committee of the Whole on Dec. 15.
Staff explained the village TIFASI program reimburses qualified façade work up to $20,000 and at up to 50% of project cost. Nathan reported that the applicant sought to remove existing metal and aluminum siding and replace it with hardie fiber cement board; the applicant submitted two quotes both above $40,000, making the request for the program maximum of $20,000.
When a trustee questioned whether the $20,000 cap remains appropriate, Steve said the amount likely dates to the Route 31 TIF's inception more than two decades ago and acknowledged that, given current construction costs, the board could revisit the policy. "20,000 is a fairly standard number but by today's standards given that things cost so much, the board can always revisit that policy," Steve said. He added the board could consider individual cases that exceed the cap through a separate TIF grant or rebate arrangement.
Trustees indicated support for assisting the business, noting the business has been at that location for several years and that a family transition—"the daughter is actually taking over the business"—is prompting reinvestment. The transcript does not record a formal roll-call approval at this meeting; trustees spoke in favor of the request on the record.
What happens next: Staff may process the TIFASI application under current program rules and the board could consider a policy change or an exception if the applicant seeks funding beyond the $20,000 program limit.
