| Implementing Sector | Local |
|---|---|
| Category | Financial Incentive |
| State | Illinois |
| Incentive Type | Grant Program |
| Web Site | http://www.somercor.com/sbif/ |
| Administrator | SomerCor |
| Cities | Chicago |
| Eligible Renewable/Other Technologies | Solar Water Heat, Solar Photovoltaics |
| Eligible Efficiency Technologies | Equipment Insulation, Lighting, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Windows, Roofs, Reflective Roofs, LED Lighting |
| Applicable Sectors | Commercial, Industrial, Multifamily Residential |
| Incentive Amount | 30%, 60%, or 90% of the costs, depending on size of the applicant. |
| Maximum Incentive | Less than $250,000 per industrial Property occupied by single owner. Less than $250,000 per industrial Property occupied by multiple owners or tenants, max $100,000 per individual applicant. Less than $150,000 per commercial Property occupied by a single owner. less than $250,000 per commercial Property occupied by multiple owners or tenants, max $75,000 per individual applicant. |
| Equipment Requirements | See program website for eligible equipment |
| Installation Requirements | Must be located in a Tax Increment Financing District (TIF) |
SomerCor 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.
SBIF provides grants to commercial businesses for 30%, 60%, or 90% of the costs of permanent building improvements such as storefront renovation building systems, interior remodeling, and roof replacement. Industrial businesses with 200 or fewer employees are eligible for grants covering 50 of the project cost.
Steps to apply
