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Transformational Grant
Projects over $100,000
The Transformational Grant authorizes a designated Village committee the ability to award two (2) $50,000 1:1 matching grants to qualifying projects with a minimum capital investment of $100,000. Approved grants will be paid in arrears upon submittal of paid invoices and finalized permits. Transformational Grant funds are available for forward facing projects that have not yet started.
Application period for the Transformational Grant is March 15 - April 30.
Transformational Grant Guidelines can be found here:
Eligible Applicants
A business of any size located within the Village of Gurnee corporate limits is eligible if it meets all of the criteria below:
- Generates sales tax, food & beverage tax, hotel tax or amusement tax and is current with remittance of all such taxes payable to the Village.
- Must be in good standing with the Village and compliant with all other obligations.
- A building owner with a qualifying business.
- Must have a Village of Gurnee business license (with the exception of building owners) and properly licensed in all other aspects.
- Must not be associated (including as a franchisee) with a brand of 20 or more locations, with two exceptions:
- Function as a licensed hotel.
- Businesses associated with a national brand that has changed locations within the Village of Gurnee during the eligible period, incurring expenses in doing so.
- Excludes grocery, pharmacy, fuel stations, packaged liquor, vape/smoke, body modification establishments, professional services and home businesses.
Qualifying Expenses
Funds for the Small Business Capital Investment Grant Program are intended to provide financial assistance to make capital improvements that will add lasting value to the property.
Qualifying expenses include:
Improvements not specifically listed as eligible or ineligible are subject to review and approval by the Village of Gurnee. Grants may be awarded in part if not all expenses are eligible.
All projects approved for the Transformational Grant are ineligible to reapply for any other grant funds provided by the Village of Gurnee.
Qualifying expenses include:
- Construction, interior or exterior
- Parking lot improvements no less that resurfacing
- Capital equipment of a permanent nature
- Facade improvements/restoration improvements
- Awning installation
- Signage - exterior
- Building - exterior replacement
- Lighting - exterior
- Plumbing, electrical, HVAC improvements
- Accessibility improvements
- Carryout/Curbside pickup reconfigurations, including permanent signage
- Improvement or installation of automation, high efficiency materials or permanent technology to building.
Improvements not specifically listed as eligible or ineligible are subject to review and approval by the Village of Gurnee. Grants may be awarded in part if not all expenses are eligible.
All projects approved for the Transformational Grant are ineligible to reapply for any other grant funds provided by the Village of Gurnee.
Non-Qualifying Expenses
The Small Business Capital Investment Grant Program is for capital improvements; therefore, cosmetic improvements do not qualify. Examples (not inclusive) of cosmetic improvements include:
Any project expense already funded or incentivized with other public sources - federal, state, county or municipality - will not qualify for funds from the Small Business Capital Investment Grant Program.
Improvements not specifically listed as eligible or ineligible are subject to review and approval by the Village of Gurnee. Grants may be awarded in part if not all expenses are eligible.
All projects approved for the Transformational Grant are ineligible to reapply for any other grant funds provided by the Village of Gurnee.
- Painting
- Installation or replacement of finishes
- Installation of flooring
- Sealcoating
- Most items not requiring a building permit.
Any project expense already funded or incentivized with other public sources - federal, state, county or municipality - will not qualify for funds from the Small Business Capital Investment Grant Program.
Improvements not specifically listed as eligible or ineligible are subject to review and approval by the Village of Gurnee. Grants may be awarded in part if not all expenses are eligible.
All projects approved for the Transformational Grant are ineligible to reapply for any other grant funds provided by the Village of Gurnee.
Transformational Grant Standards
The Small Business Capital Investment Grant Program is an opportunity for the Village to give back to the business community. By implementing the Transformational Grant, the Village has to ensure several precautionary measures are complied with in order to protect investments by the business, property owner and Village.
Each applicant ensures:
Each applicant ensures:
- Project will not begin until notified of grant award.
- The application will be submitted in whole including:
- Full project outline
- Proposal from contractor(s) for all required trades for the project.
- All proposed contractors must be registered with the Village of Gurnee and in good standing.
- The applicant is in good standing with the Village of Gurnee.
- The property or entity applying has confirmed no liens exist on the proposed location prior to or upon completion of the grant-funded project.
- The business and contractor(s) will obtain necessary permits within six (6) weeks of award notification and will comply with all permit requirements.
- All permits will be finalized by April 30, 2024.
Grant Process
Any qualifying business owner with a qualifying project may apply for the grant by completing the application below and submitting it to smallbusiness@village.gurnee.il.us anytime between March 15- April 30. Once the application period closes, the Village will:
- Review all grant applications and use a scoring matrix to determine awardee.
- Notify the grantee of award in writing.
- Present the selected awardees to the Village Board for approval.
- Awardee must sign and return an agreement between awardee and Village.
- Upon approval of the Small Business Capital Investment Grant, awardee must gain building permit approval, and zoning if applicable, within 60 days.
- After receiving all required approvals and permits, the awardee shall complete the project no later than April 30, 2024.
- Upon completion of the project, awardee must submit copies of all invoices noting obligations have been paid in full, pictures of the completed project and W-9.
- Once all required information is submitted upon completion of the project, the Village of Gurnee will process the award within 30 days.
Application Checklist
To be considered for the Transformational Grant the following information MUST be submitted with the application:
- Completed grant application
- Architectural floor plan(s)
- Copy of estimates from licensed contractor(s) for proposed work
- Photographs of existing location