Retail Grant Program Needs Reloading

In the past six months, Elmhurst has awarded $17,500 to six businesses in an effort to improve the retail mix in the central business district. The Retail Grant program offers businesses up to $10,000 to use in planning and building out space, improving signage, hiring consultants or taking on more marketing projects.

But there are still five more months left in the fiscal year, and the Finance, Council Affairs and Administrative Services Committee wants to ensure there's money for these efforts to continue. On Monday, the committee recommended the city transfer $20,000 from Tax Increment Financing District No. 1's facade improvement program to the retail grant program. This proposal will now go to the full City Council.

Committee member and 4th Ward Alderman Kevin York explained that grants have averaged $3,500 to $5,000, and recent recipients include , which just open on York, south of the Metra station, which opened a second location on First Street, and Cottage Hill Diamonds, which recently relocated.

Elmhurst Chamber of Commerce and Industry President and CEO John Quigley told the committee that stores taking advantage of the program have a 75 to 80 percent success rate, and invest 10 times the grant fund amount of their own cash in the businesses.