Westmont, IL- In late 2023, the village of Westmont announced a new program designed to promote business activity in the downtown area. The 2024 Downtown Incentive Program (DIP) provides matching grants to qualifying downtown Central Business District business owners and commercial/mixed-use property owners to help cover costs for improvements that include signage, facade, exterior accessibility, and fire suppression systems.
The program, which replaced the previous Facade and Life Safety Grant program, aims to expand funding limits. This includes fire safety, addressing challenges to water supply and providing funding for properties facing fire suppression challenges at a higher level.
The initial application period expired in December 2024 but DIP administrators will accept applications on a first-come, first-served basis if funding is still available. Projects must have a minimum construction value of $5,000; the maximum grant amount is $20,000. Grants typically cover 10% to 25% of the total project cost, but incentive bonuses may increase the grant amount up to 50%.
The DIP can provide funding for installation, upgrade, or expansion of fire suppression systems, alarms, exiting signage, emergency exiting, or similar upgrades to enhance the fire safety of a building. This funding can cover upgrading any servicing water lines but does not include tapping fees.
DIP was initiated by the Community Development Department, which formed a working group comprising members from the Village Board, the Planning and Zoning Commission and the Chamber of Commerce.
Community Development Director Joseph Hennerfeind discussed how this program will benefit the community. “The DIP is expected to assist property and business owners in making more attractive, safer, and more accessible spaces within the downtown area,” he said. “The incentives for increased match funding can facilitate improvements beyond minimum standards and have a greater impact on the business district. It is hoped that these increased grant limits can catalyze investment that would otherwise be deferred.”
Information about the DIP is posted on the Village of Westmont website
####