Joliet proposes grant to help Chicago Street businesses

The city of Joliet is proposing a Business Continuity Grant Program to support businesses on Chicago Street, according to a news release from the city of Joliet.

This grant program would cover operational costs to help protect jobs and sustain business operations during and after construction of the $20.1 million downtown improvement project that includes a new city square and redesigned Chicago Street.

However, road closures due to the construction hampers those businesses’ day-to-day operations, according to the release.

If approved, these city grants will offer “up to 50% of the revenue a business loses due to construction impacts,” according to the release. The maximum payout per business location per year would be $100,000, according to the release.

Funding would come from Joliet’s general fund, according to the release.

The city based its proposal on an analysis of the number and financial needs of businesses within the Chicago Street commercial corridor, according to the release.

If approved, the Business Continuity Grant Program would provide assistance to businesses from Webster Street to Jefferson Street, according to the release.

The resolution will be presented to the Joliet City Council for consideration Tuesday, according to the release.