Western Avenue (South) TIF

The City of Chicago’s Small Business Improvement Fund (SBIF) promotes economic development by providing small businesses with reimbursable grants for permanent building improvement costs. SBIF grants use local Tax Increment Financing (TIF) revenue to reimburse you for the pre-approved repair or rehab of your business facilities or adjacent land acquisition. SomerCor is the program administrator contracted by the Chicago Department of Planning and Development.

The Western Avenue South TIF is characterized by approximately 254 acres of commercial, residential, industrial, and institutional land uses within the North Center community (see map above). The TIF's main purposes are to support mixed-use rehabilitation and new construction projects along with blighted areas of arterial streets, open space improvements along underutilized portions of the North Branch of the Chicago River, and industrial investments that promote job-generating business projects within the Addison Industrial Corridor. Funds are also targeted for land assembly initiatives, public works upgrades, and certain relocation and interest costs. Job training and daycare programs are also supported by the TIF.

Note: Applications received for these areas will NOT be accepted after 5 pm CT on Wednesday, June 30, 2021. Applications may be emailed to sbif@somercor.com.