Mayor Tom McNamara, City Of Rockford | City Of Rockford website
Mayor Tom McNamara, City Of Rockford | City Of Rockford website
The City of Rockford has introduced two new economic development initiatives aimed at supporting business and property owners. These programs are the TIF Commercial & Industrial Rehabilitation Program and the Commercial Corridor Property Revitalization Program.
The TIF Commercial & Industrial Rehabilitation Program provides forgivable loans to those investing in commercial and industrial spaces within designated corridors in Rockford. The program covers 50% of project costs, up to $25,000, to aid in building improvements. Interested parties can find more information at www.RockfordIL.gov/TIFCommercialIndustrialProgram.
Similarly, the Commercial Corridor Property Revitalization Program is now accepting applications. This initiative also offers forgivable loans for investments in specified corridors. It covers 75% of project costs, up to $25,000, for building enhancements. More details are available at https://www.rockfordil.gov/CommercialCorridorProgram.
Both programs aim to stimulate economic growth by assisting property owners and tenants with necessary improvements.
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