ARDMORE HISTORIC BUSINESS DISTRICT INCENTIVE PROGRAM
In order to encourage reinvestment and the rehabilitation of one of Villa Park’s most historic business districts, the Village will provide financial assistance to property owners for the interior and exterior rehabilitation of first floor commercial space in property tax generating structures. All rehabilitation work must be respectful of the historic character of the building, with every reasonable effort made to preserve the distinguishing original stylistic features of said building.
Applications will be reviewed by the Economic Development Commission (EDC). The EDC will make its recommendation to the Village administration for final consideration. Applications will be considered in the order they are received, and funding is available until all program dollars have been committed. One project is allowed per building, per program year and only two projects per building in a five-year period. Deferred maintenance and general maintenance items such as tuck-pointing and roof repair/replacement are ineligible. Project work must not begin until the applicant has been notified by the Village’s Economic Development Department.
Projects will be reimbursed on a dollar for dollar match up to $10,000. This program has been funded for fiscal year 2023 (January 1 – December 31).
In order to maximize the effect of the funding, the program will be limited to the catalyst area identified on the attached map.
Priority will be given to projects that are rehabbing interior space for a new tenant, creates jobs and increases sales tax revenue. In addition, consideration will be given to:
Storefront rehabilitation, including removal of non-original facade covering.
Repair or restoration of architectural detailing.
New awnings, signs and exterior lighting.
Door and window replacement.
Reimbursement will occur after the project has been completed and the applicant has submitted invoices, proof of payment, and lien waivers for the entire project.