Funding is available through the City as a means to assist continued development or redevelopment of the City of East St. Louis, IL. The Community Development department encourages and facilitates the development of retail businesses in the City of East. St. Louis' commercial corridors. The goal of the program is to promote neighborhood retail development by helping retailers and developers serve our community's needs.
Businesses that are strong sales tax and/or property tax generators, good employers, fill specialty market niches, complement the surrounding area or businesses, and have strong operating histories will be given priority consideration. Start-up businesses are not eligible.
Eligible activities and terms will be developed in accordance with the unique needs of each particular business. It is the intent of this program to meet aspects of business development that are not addressed by the Small Loan or Rehabilitation Loan Programs.
Examples of activities could include:
- Down payment assistance for property acquisition
- Credit guarantees
- Public improvements in connection with a project
- Parking in-lieu fee assistance
- Remodeling and/or construction assistance