The City and partner organizations offer a variety of incentive programs to assist new and existing businesses. Certain incentives are designed to rebate new sales and/or property tax revenue. Other programs support the modernization, modification, or repair of physical structures. The following list highlights St. Charles’ incentive programs: (For more information click the link for the corresponding program description)
The City of St. Charles has adopted a formal Economic Incentive Policy that provides guidance and a detailed process for developers/businesses interested in financial assistance. Certain types of assistance such as creating a TIF District are State regulated processes and properties must meet these eligibility criteria to qualify. Contact City staff to see about working together on your project.
Façade Improvement Grant Program assists with the improvement and restoration of historic building exteriors to preserve the character of the City’s historic districts. Funding assistance is available for 25% of the cost of maintenance work and 50% for certain types of historic preservation projects.
To learn more about this program, please visit the Façade Improvement Grant information page.
Commercial Corridor and Downtown Business Economic Incentive Program – This program offers 50/50 matching awards (up to $25,000) for permanent structural & life safety modifications. Eligible improvements include plumbing, electrical, fire sprinklers and alarms, and structural repairs. Funds are restricted to retail and service businesses on the 1st floor of commercial buildings in downtown and major commercial corridors.
To learn more about this program, please visit the Commercial Corridor and Downtown Business Economic Incentive Program information page.
NO FUNDING AVAILABLE for the Corridor Improvement Grant in the 2020-2021FY beginning on May 1, 2020.
Corridor Improvement Grant – Businesses along the City’s commercial corridors and downtown are eligible for the Corridor Improvement program. This program provides 50/50 matching grants for landscape improvements that improve the aesthetic appeal of St. Charles’ major thoroughfares.
Store Front Improvement Grant – The St. Charles Business Alliance will reimburse up to 50% of the cost for storefront improvements, such as a sign, awning or lighting, for properties located within the Downtown St. Charles SSA-1B Boundary. The maximum reimbursement grant is not to exceed 50% of the cost up to a maximum of $1,000.
For more information, please contact the St. Charles Business Alliance at 630-443-3967 or by visiting their website at www.stcalliance.org.