Pekin Main Street is committed to the success of downtown revitalization and business support. By partnering with the City of Pekin, we are able to offer businesses programs to better assist building owners in revitalizing their building. These programs include Facade Grants and Commercial Retail / Upper Story Loft Living incentives. Some Eligible Loan uses include upgrading electical systems, plumbing, HVAC, sprinkler systems, elevators, walls, plaster, paint, framing, flooring, door installation, kitchen and bath, upgrade of windows, and architectural renderings and consultations.

Together we can all enjoy the benefits of a thriving downtown district.

Downtown TIF Commerical Retail / Upper Story Housing Loan

This loan program provides a forgivable loan (0% interest rate-otherwise known as a grant), but requires private financing to complete the project. The loan amount is a dollar to dollar match, up to but not exceeding $25,000. The loan program is available for viable commercial retail use on first & upper story floors and upper story lofts / apartments. Tax Increment Financing (TIF) funding cannot be more than 50% of the cost of the total project. One program (maximum $25,000 total) per building over a 5 year period is allowed however, a maximum of $50,000 can be permitted for building projects with multiple floors within the 5 year period requirement and project completion. At the City's Council's discretion, larger projects could be considered for additional funding. Qualified projects are treated on a first come, first serve basis as funding is available in the annual TIF budget.

Is your business located in the TIF district?

Downtown Facade Revitalization Program

The Facade Program is designed to help building and business owners with exterior improvements to their building. This is a grant program where applicants can receive 1/2 of their project expense or $12,500 - whichever is less. Facade Grant applicants have used the program to fix roofs, replace windows, new signage and to make structural improvements.

Pekin Area Enterprise Zone (PAEZ)

The PAEZ zone is a special designated district in the City of Pekin that provides tax credits and other incentives for commercial and industrial development within the zone. The Downtown TIF district projects can use the PAEZ to waive certain permit and inspection fees required by the City and the County as well as a sales tax exemption on building materials. Projects must meet certain requirements to utilize the PAEZ incentives. Certain PAEZ incentives do not apply to TIF projects.

Downtown Revitalization Programs Booklet

Download our application packet today and see if your business qualifies for these great programs.

Download the Packet:
Downtown Revitalization Programs

Have a question about whether your business qualifies or if something is an eligible project?

Contact Leigh Ann Matthews at 309-477-2300 or Melida Heien at 309-353-3100.