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Palatine proposes $450,000 downtown grant program to spur façade and code-driven interior upgrades
Summary
Village staff proposed a $450,000 TIF-funded downtown grant program that reimburses eligible façade work and select interior, code-driven improvements to encourage private reinvestment; council approved proceeding with exterior grants and asked staff to refine interior criteria before appropriating funds.
Village of Palatine staff presented a proposal to seed a downtown improvement grant program with $450,000 of TIF funds to encourage property and business owners to reinvest in older buildings.
Staff explained eligibility and limits: qualifying buildings must have been constructed prior to 2000 and have a first floor used for sales-tax-generating commercial activity. Façade grants would reimburse up to $1,000 per linear foot of frontage, plus an additional $500 per linear foot for multi-story buildings, with a maximum of $75,000 (one-story buildings capped…
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