The Aurora Regional Economic Alliance Foundation's Finish Line Grant (FLG) program provides strategic financial support to assist commercial and mixed-use property owners and tenants in completing critical property rehabilitation and improvement projects. The grant aims to ensure that local commercial spaces in Aurora, Illinois, are revitalized and positioned for long-term viability. Administered by the Alliance Foundation, this program supports capital improvements that address code compliance, building modernization, and other enhancements necessary for business functionality and safety.
Applicants eligible for the program must be commercial or mixed-use property owners or tenants operating small businesses with fewer than 50 employees. They must control the property via ownership, purchase agreement, or lease with at least three years remaining, and must not have unresolved legal, regulatory, or financial violations with governmental entities. Projects must involve significant build-outs or rehabilitation efforts with total costs exceeding $10,000. Labor must be compensated according to Illinois and Federal Prevailing Wage standards.
Grants may reimburse up to 30% of eligible expenses, with a maximum award of $50,000, or up to $75,000 specifically for restaurant projects. Eligible expenses include building materials, commercial kitchen equipment, lighting, signage, utility and system upgrades, and code-required tenant improvements. Ineligible costs include rent, inventory, payroll, moving expenses, working capital, and electronics unrelated to construction. Reimbursements are issued post-project completion, requiring lien waivers, final inspections, and certified payroll documentation.
Applications are accepted on a rolling basis until funds are exhausted. They can be submitted online via the Finish Line Grant Application Portal or emailed with all necessary documentation, such as cost estimates, ownership evidence, tax records, business registration, incorporation documents, and proof of funds. The application review process is conducted by the Alliance Foundation's committee, which aims to make funding decisions within 60 days of receiving a complete application.
Post-award obligations require grant recipients to maintain business operations at the improved property for a minimum of three years and avoid prohibited business types without written approval. Projects must be completed within 180 days of the commitment letter, with the possibility of a 90-day extension. Failure to comply with these requirements constitutes default, triggering a repayment obligation on a prorated forgiveness basis. The program reflects a commitment to economic growth and urban revitalization in Aurora, Illinois.
