Route 47 Business Relief Fund

The Route 47 Business Relief Fund is a locally administered financial assistance program established by the City of Woodstock in partnership with the McHenry County Community Foundation. The program is designed to provide short term support to small businesses that are directly impacted by the Route 47 Expansion Project. The City recognizes that infrastructure improvements, while beneficial for long term economic development, can create temporary disruptions such as reduced customer access, limited parking, and decreased visibility. This fund is intended to stabilize affected businesses during construction so they can continue operating and serving the local community. The program operates as a competitive grant initiative with funding derived from an initial City contribution and additional private donations managed by the Community Foundation. Awards are limited and distributed across grant cycles that coincide with active construction phases. The City anticipates offering at least two cycles, with additional rounds possible depending on funding availability. Grants are not guaranteed, and the program may be paused or modified if funds are depleted. Each eligible business may receive up to one award per cycle and no more than two awards across all cycles. Funding is provided as reimbursement for eligible expenses incurred due to construction related impacts. Allowable uses include payroll and employee retention, marketing and customer outreach, rent and utilities, equipment repair or replacement, and business related debt service. However, funds cannot be used for owner bonuses, political activities, illegal activities, or personal expenses unrelated to the business. Reimbursement occurs after approval and submission of receipts, and expenses incurred prior to approval are not eligible. Eligibility is restricted to privately owned, brick and mortar businesses located within the designated Route 47 Construction Project Impact Area. Businesses must have been operating for at least twelve months, employ between one and forty nine full time equivalent employees, and generate annual revenues between thirty thousand and five million dollars. Eligible industries generally include retail, food service, arts and entertainment, and other customer facing neighborhood services. Businesses must also be in good standing with local, state, and federal requirements and intend to remain in Woodstock after construction is complete. Applicants are required to demonstrate measurable construction related impacts. This includes evidence such as a minimum ten percent decline in total gross revenue over a ninety day period, reduced staffing or operating hours, or documented disruptions to customer access, parking, or visibility. Supporting documentation may include profit and loss statements, sales tax reports, point of sale summaries, or other financial records. The City may request additional documentation to verify claims. The application process involves multiple steps. Businesses must first complete the City online application. If deemed eligible, they are invited to submit a narrative application through the Community Foundation portal. Applications are reviewed initially by City staff for completeness and eligibility, followed by evaluation from the Community Foundation Grant Review Committee, which determines final award recipients. Applicants are notified approximately six to ten weeks after submission of a complete application. The first application cycle opens on July 31 and closes on August 31, with submissions accepted during this defined window only. The program is recurring across construction phases, though exact future cycle dates depend on project progress and funding availability. Award notifications for the first cycle are expected approximately in mid October. For questions, applicants may contact Cathleen Tracy, Economic Development Manager, via phone at 815 334 2278 or by email at econdev at woodstockil dot gov.

Provide clear documentation of revenue decline and construction impact ensure all required financial records are complete and consistent