After being approved more than a month ago, Gurnee’s Small Business Capital Investment Grant Program kicked off Monday, allowing village businesses to apply for grant of up to $10,000 for capital improvements.
Details of the program were outlined at Monday’s Village Board meeting by Ellen Dean, Gurnee’s economic development director.
Gurnee businesses are eligible for the grants if they provide either sales tax, food and beverage tax or amusement tax revenue to the village. Dean said that hair salons and similar businesses would be eligible if they sold products that would generate a sales tax. To be eligible, businesses must also have a Gurnee business license, and be in good standing with the village.
Dean added that through the program, the village is targeting small businesses, meaning businesses with fewer than 20 locations, although it does have one exception — it will allow larger businesses to apply if they have paid to relocate to Gurnee.
“We did have one exception that we thought was worthy of a slight adjustment and that is the national brand that has chosen to completely relocate to the village, and has incurred eligible expenses to do so,” she said.
During her presentation, Dean highlighted some of the qualifying expenses that businesses can have covered under the grants, including interior and exterior construction, parking lot improvements and exterior lighting.
The program wants to invest in “durable, capital improvements,” that will improve the structure and may even outlast the current business, she said.
“It probably means something that lasts, at that property, long beyond that one tenant,” Dean said. “It benefits the business absolutely, while they’re there, but it also improves the value of the commercial real estate, which is going to house future businesses.”
Expenses that do not qualify for the program include painting, sealcoating, installation and “most items not requiring a building permit,” according to the village’s website. Projects may also not have had any expenses covered by any other kind of public funding, including federal, state or county sources.
“It’s not an all-or-nothing sort of thing,” Dean said. “If a business applies for a grant and part of it is eligible and part of it is not, for whatever reason, we’re happy to [partially cover it].”
She also added that approved businesses can apply for multiple grants if their first project comes in under the $10,000 cap.
The board has approved $250,000 to be used for grants as part of the program, but Dean said that if there is a high demand and a large number of applicants she may return to the board and ask for further fund approval.
In addition to the grant program, the board also approved two other measures to help aid local businesses that have struggled during the pandemic. Small restaurants, bars and other on-premises businesses that serve alcohol and have fewer than 20 locations will be eligible for a liquor license fee waiver in 2022.
As part of the program, 2021 on-premises licenses will be extended through 2022. All types of businesses will also be eligible for a 50% reduction in business licenses in 2022, with the exception of temporary businesses.
Applications can be accessed on the village’s website, where further information about the program can also be found.
