Finish Line Grant Program in Illinois

The Aurora’s Finish Line Grant Program, administered by Invest Aurora, offers gap financing to commercial businesses and property owners within the City of Aurora. Its core mission is to facilitate the completion of permanent property rehabilitation and improvement projects, directly aligning with Invest Aurora's strategic priority to enhance the economic viability of the city. The program aims to address the financial gaps that often hinder such crucial development, thereby supporting the broader economic growth and revitalization efforts within Aurora. The primary target beneficiaries of this program are commercial businesses and property owners located within the City of Aurora. The impact goals are centered on increasing economic viability, which is achieved by assisting these entities in completing commercial rehabilitation projects. By providing financial support for improvements, the program contributes to a more vibrant and economically robust commercial landscape, attracting further investment and activity within the city. The Finish Line Grant Program prioritizes projects that result in fixed capital improvements and are permanent to the property. This includes a wide range of qualified expenses such as build-out costs for new or expanded retail space, building materials, internal and external lighting, HVAC, electrical, and plumbing system installations/upgrades, exterior signage, and repair/rehabilitation of building exteriors. A significant focus is also placed on businesses that generate retail sales tax, with a requirement that 51% of annual revenue must come from sales tax, ensuring that the grants support businesses that directly contribute to the city's tax base. Expected outcomes include a tangible increase in the number of completed commercial rehabilitation projects and an improvement in the overall condition and functionality of commercial properties in Aurora. Measurable results would involve tracking the types and values of projects completed, the number of businesses supported, and the associated increase in retail sales tax generation within the city. The program also anticipates an increase in the economic viability of the City of Aurora, which can be measured through various economic indicators over time. Invest Aurora's strategic priority, as reflected in this grant, is to stimulate local economic development by empowering businesses and property owners to invest in their physical infrastructure. The theory of change behind the Finish Line Grant Program is that by providing targeted financial assistance for property rehabilitation, Invest Aurora can remove barriers to development, encourage local investment, and ultimately lead to a more thriving commercial environment, greater economic activity, and an enhanced quality of life within the City of Aurora.