New capital program aimed at revitalizing main streets in Illinois

Date:

Share post:

(The Center Square) – Illinois has a new economic recovery program aimed at revitalizing commercial corridors that were hit hard by the COVID-19 pandemic.

The Illinois Department of Commerce and Economic Opportunity Friday announced a $50 million capitol program designed to spur investments in main street areas statewide. The latest installment of the Rebuild Illinois capitol program will leverage funds from the American Rescue Plan Act to provide grants for construction, repair and modernization of public infrastructure and amenities.

“We are inviting cities, towns, chambers of commerce, private developers just to name a few, to apply for these funds that will revitalize their communities and the local economy,” said DCEO spokesperson Aly Grady.

Projects eligible for the grants must be located in a commercial center or downtown area. They could include roadways, parking and public way improvements, parks and plazas for public use, and transit-oriented development.

Project awards will range from $250,000 to $3 million in funding. The program incentivizes local match with private businesses or organizations required to provide a minimum 50% match. Public projects will receive higher priority if they include a local match component.

Smaller towns and their businesses in downstate Illinois have been hit hard by the pandemic, and attracting more people to live there will be a challenge in a state that is losing residents. The total population in Illinois is about 12.8 million, a decline of over 18,000 since the last census count. Only two other states, West Virginia and Mississippi, lost residents.

“While Illinois has made significant progress in combatting COVID-19 and reopening our communities, we know that more work is needed to restore economic activity to the places hit hardest during the pandemic,” said DCEO Acting Director Sylvia Garcia.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related articles

Purdue University Blocks TikTok on Campus WiFi, Citing Security Concerns

Purdue University has blocked access to the TikTok app and website on campus Wi-Fi, citing concerns over cybersecurity...

Kankakee County Continues to Lead Illinois in Unemployment for Second Straight Month

KANKAKEE COUNTY, Ill. – Kankakee County has maintained its position as the county with the highest unemployment rate in...

Fort Campbell Helicopter Accident Results in Tragic Loss of 9 US Soldiers

FORT CAMPBELL, KY - Tragedy struck the 101st Airborne Division (Air Assault) on Wednesday evening when two US Army...

$40 Million Investment to Boost Transportation Sector in Kankakee with I-57, Route 17 Interchange 

KANKAKEE, IL - Get ready for a major boost in the transportation sector! Governor JB Pritzker has just announced...