Incentives

building
Incentives
VILLAGE OF HUNTLEY small business assistance programs
The Small Business Assistance Programs have been established to encourage the growth and success of new and existing businesses within the Village.  Assistance with start-up costs, expansion costs, building improvements and upgrades will contribute to a well-maintained and diverse business community. 
The Village will evaluate applications and recommendations will be presented to the Village Board based on established award criteria and application details. Business owners and/or building owners who wish to be considered for a grant must complete and submit a formal application based on the criteria set forth in this document. Creative concepts that add new products or services to Huntley are encouraged. Applications are reviewed on a first come, first served basis, subject to available funds. All funds shall be disbursed to awarded applicant on a reimbursement basis. The Village of Huntley requires a detailed quotation detailing work and expenses for all projects being considered for grant funding. Note: Expenses will only be considered eligible under one (1) of the Grant programs. The Tenant and Building Owner may not request funds for the same project expenses. The same expense cannot be applied for under multiple Grants programs, even if considered an eligible expense under each program.

The three grant programs are as follows: 

BUILDING IMPROVEMENTS/UPGRADES GRANT PROGRAM
CODE COMPLIANCE GRANT FOR BUSINESS OWNER/TENANTS | UP TO $20,000
Tenants renting business zoned space (and operating an eligible business type as defined by the program) within Huntley may be eligible to receive funds not to exceed 25% of the project cost for code related items, up to a maximum of $20,000. Qualifying expenditures of $80,000 must be submitted to obtain a maximum possible reimbursement Grant of $20,000.

BUILDING OWNER’S IMPROVEMENT INCENTIVE PROGRAM | UP TO $30,000
The Building Owner’s Improvement Incentive Program assists property owners with major building renovations. Property owners of business zoned space within Huntley may be eligible to receive funds not to exceed 20% of the project cost, up to a maximum of $30,000. Qualifying expenditures of $150,000 must be submitted to obtain a maximum possible reimbursement Grant of $30,000.

BUSINESS START-UP, RELOCATION AND EXPANSION GRANT PROGRAM
BUSINESS START-UP, LOCATION AND EXPANSION GRANT PROGRAM | UP TO $20,000
Designed to assist new businesses looking to start operations in, or relocate to Huntley, and existing Huntley businesses that are looking to grow and expand within the Village. Tenants must rent or own business zoned space and operate an eligible business type as defined by the program. Business owners may be eligible to receive funds not to exceed 50% of up to $40,000 in qualifying expenditures incurred in the course of opening a new business or the expansion* of a business (*expansion of a current Huntley business operating address must include an increase in site size by an additional 20% in gross leasable square footage as compared to current operating space. Or, relocating from a non-Huntley address to a Huntley business operating address ) Qualifying expenditures of $40,000 must be submitted to obtain a maximum possible reimbursement Grant of $20,000.
Additional information regarding the Small Business Assistance Programs is available here

VILLAGE OF HUNTLEY facade improvement assistance program
The Village of Huntley Façade Improvement Assistance Program is designed to promote the revitalization of Downtown Huntley and the surrounding area in accordance with the goals and recommendations of the Downtown Revitalization Plan and the Village’s Commercial Design Guidelines.  The Façade Improvement Assistance Program is intended to provide financial assistance to promote the continued use of existing buildings within the Downtown Tax Increment Financing (TIF) District.  Additional information about the program and building location eligibility is available here.

To request full program details for the Small Business Assistance and Facade Improvement Programs and for assistance with questions, please email Melissa Stocker, Development Manager.  

COMED INCENTIVE PROGRAMS
ComEd offers a number of Incentives for business. Save energy and money by taking advantage of these programs and tools for your business. Visit comed.com/bizincentives to learn about incentives for Lighting, HVAC, Small Business, New Construction, Data Center Efficiency and more.  


OUTSIDE RESOURCES
State of Illinois Incentives and Loan/Financing
The State of Illinois Department of Commerce & Economic Opportunity program offers a variety of incentive programs as well as State loans and financing programs. For an overview of these programs, visit: https://www2.illinois.gov/dceo/ExpandRelocate/Incentives/Pages/default.aspx

SBDC - Small Business Development Center

The Illinois Small-Business Development Center is a grant-funded program that provides business resources for businesses that employ up to 500 people. Services include:
  • business advising, providing guidance for business growth
  • timely courses where you can network with other small-business owners
  • entrepreneurial resources including assistance obtaining funding
The local SBDC at McHenry County College:  https://www.mchenry.edu/isbdc/
The local SBDC at Elgin Community College: https://elgin.edu/business/