PEORIA COMMERCIAL RENOVATION GRANT

The City of Peoria recognizes the importance of commercial property improvements
to improve the appearance, modernization of interiors, and vitality in the City’s commercial corridors.

The Commercial Renovation Grant Program is
a grant which provides funding to small business owners
for permanent site improvements on commercial buildings within the City.

The Program provides awards between $5,000 and $25,000 in assistance for exterior or interior permanent improvements for eligible businesses.

Does your business qualify?

There are a few different category’s which are needed to qualify.

Eligible Applicants

1. A small business is defined as a commercial enterprise that is independently owned, operated, and controlled, and has 50 or fewer full-time equivalent employees (under 2,000 payroll hours per week) at the time of application.
2. Business entity must be one of the following:
   a. A sales tax revenue generating business.
   b. Service business that has a main entrance facing a public pedestrian walkway.
   c. Not-for-profit seeking funds for commercial retail related projects.
3. Business revenues must be under $1.5 million ($1,500,000) after Cost of Goods Sold.
4. Applicant(s) must be the end user of the commercial space.

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Eligible Properties

1. Property must be located within the boundary of the City of Peoria.
2. Property must not have any outstanding code violations.
3. Unit must be zoned for and operate as commercial use.
4. For mixed-use properties, funds may only be used for eligible commercial components.
5. Only commercial space used for retail services is considered eligible for non-profit entities.
6. Unit must have a current or proposed commercial use. If vacant, applicant must submit an executed lease or purchase contract.
7. All properties must have current commercial insurance for the proposed property.

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