The City of Wheaton is prepared to offer the following incentives to property owners in its two TIF Districts to assist in building rehabilitation.

Downtown Design Guidelines has been created to assist in remodeling and new construction projects.

Architectural Fees Grant

To encourage the construction of attractive, well-designed facades, an architectural assistance program has been developed to reimburse property owners for a portion of their architectural fees.

Awning/Sign Grant

To encourage the installation of high quality, attractive signage, a program has been developed to reimburse business and property owners for new signage and awnings.

Interest Loan Subsidy

To encourage more substantial improvements to buildings, an interest loan subsidy program has been developed. Area banks currently offer credit to qualified Downtown property owners' loans at a rate of prime minus one for one year and prime for the balance of a five-year loan. The City of Wheaton will provide TIF funds to write down the cost of interest additional two points from a pool of $500,000.

Downtown Wheaton Retail Business Grant Program

The intention of the Retail Business Grant Program is to attract targeted retail businessess and to assist existing businesses in Downtown Wheaton with expansion activities.  Only businesses residing in or moving into the TIF districts are eligible.

Copies of the Grant program and applicaiton are available at the DWA office.

Facade Rehabilitation Grant

The City of Wheaton Facade Rehabilitation Grant program has been in existence for ten years and is available to all Downtown business and property owners. Work which qualifies for reimbursement includes improvements to the exterior to the building such as painting, cleaning, tuck pointing, facade repair, window repair, or replacement signage and other permanent improvements to the property consistent with the architectural integrity of the building or site.

Sales Tax Rebates

Sales tax rebates may be considered as part of an overall package of incentives granted to significant rehabilitation projects or to help secure a particularly desirable use. These grants are approved by the Wheaton City Council and must be requested prior to the construction of any improvements.

Other Incentives

The Illinois State TIF statute allows the City to spend TIF funds on expenditures such as public improvements, site preparation, and land subsidies.

To Apply

Contact the City of Wheaton Director of Planning & Economic Development at 630-260-2008 or write to City of Wheaton, Box 727, Wheaton, IL 60189.*

*The City of Wheaton retains the right to approve the design of the project. While there are no required restoration guidelines, designs should be sympathetic to the original integrity of the building, compatible with neighboring structures and of a quality that suggests the improvements will last a reasonable period of time. Applicants are encouraged to contact the Wheaton Historic Commission for design assistance.

CONTACTS

City of Wheaton
Jim Kozik, Director of Planning and Economic Development
303 West Wesley
Wheaton, IL 60187
Phone: 630-260-2008
Fax: 630-260-2195
E-mail: jkozik@wheaton.il.us
www.wheaton.il.us

Downtown Wheaton Association

Jeane Garza, Downtown Manager

129 West Front Street
Wheaton, IL 60187
Phone: 630-682-0633
Fax: 630-682-0762

Email:  jeane@downtownwheaton.com

www.downtownwheaton.com

Wheaton Chamber of Commerce
The Wheaton Chamber of Commerce (WCC) is a membership organization working to foster meaningful business relationships, advocate on issues impacting the local economy, and develop business education and marketing opportunities.
Lisa Bock, President
108 East Wesley
Wheaton, IL 60187
Phone: 630-668-6464
Fax: 630-668-2744
E-mail: wccinfo@ewheaton.com
www.ewheaton.com


To request a detailed brochure on Financial Incentives, visit our guest book!