The Village of Mahomet added funds to the Downtown Façade Grant Program from $5,000 to $10,000 per location per program year at the July board of trustees meeting.
The program, which began in 2017, provides financial assistance to encourage exterior site and facility improvements that “enhance the character, safety, and aesthetics of the
downtown.”
Since the fiscal year 2018, the Village has allocated $41,514 in grant requests, helping fifteen applicants, with two applicants being denied government assistance.
Applicants are required to provide a minimum of 50-percent of the total project costs of the improvements.
The move to allocate additional funds towards downtown projects will give funds to three business owners who have projects totaling $40,000, $53,000, and $55,000 in the fiscal years 2021 and 2022.
The budget impact for this decision will move the Village to allot $30,000 in grants funds as opposed to $15,000 each fiscal year.
“If we have the money and there are more major projects, we may consider in a few years in future to allocate more funds into this program than we have the past few years since the projects are eligible for using the Downtown TIF funds,” the board packet said.
