Serving the Cragin, Hermosa,
Humboldt Park & N. Austin Communities
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The Yellow Brick Road and the Land of Oz...
at Humboldt Boulevard
and Wabansia Avenue. It's the neighborhood author L.Frank Baum lived in the when he wrote “The Wonderful Wizard of Oz” and
other Oz books.
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June 26th, 2020
- $12.5M Portage Park Development - Industry Reopening Guidelines - Resources & Funding - IRS Tax Credits - DPD/Somercor SBIF Webinars - Wide Open Spaces - Updated Real Estate Inventory
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City Assistance Approved for
Portage Park Retail, Storage Complex
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A $12.5 million mixed-use development in Portage Park
- expected to create 22 permanent jobs and up to 60 temporary construction jobs - will move forward through $3.3 million in Tax Increment Financing (TIF) assistance approved by the Chicago City Council in May. The 122,300-square-foot complex at Central and Waveland Avenues will include a four-story, self-storage warehouse and 12,000-square-feet of ground-floor retail space.
Click
for additional details.
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Deadline: June 29th
Chicago's Fund to Rebuild Neighborhoods
Application is open for the “Together Now” fund
launched this month by Mayor Lightfoot to provide financial relief for Chicago small businesses and non-profits that experienced economic distress due to COVID-19 or recent property damage.
Businesses with property damag
e will be eligible for infrastructure grants up to $10,000 to help with repair costs. Businesses that have at least a 25 % revenue loss due to COVID-19 are eligible for operational grants up to $4,000 to cover economic losses. Business owners are eligible to apply for one infrastructure grant and one operational grant. Select regional or national chain businesses, including franchises, branch banks and payday loan stores, are not eligible
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Donations to the Together Now Fund are tax deductible
and can be made on the
Chicago Community Trust
website.
Together Now
is a collaboration between the
City of Chicago
, the
Chicago Community Trust
and
One Chicago Fund
.
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Small Business Improvement Fund
Now In its 20th year
, the SBIF program is still
helping small businesses in nearly every Chicago neighborhood. One of the longest-running City programs, SBIF grants use Tax Increment Financing to reimburse businesses for qualifying repairs and upgrades.
Two webinars on the SBIF program
and the application process are scheduled this summer by the Department of Planning & Development (DPD) and SomerCor. Advance registration is advised; however, both can be live-streamed on the day of the event on
DPD's YouTube page.
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New Listings Added...
NWCC's Commercial Real Estate Inventory
The NW Connection Chamber maintains
an inventory of commercial and industrial properties for sale and lease. Agents, brokers, and owners are invited to send their listings for inclusion.
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DPD Commissioner Visits North & Pulaski
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At left
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Maurice Cox, Commissioner of Chicago Department of Planning & Development, and Alfredo Jimenez of Carnicerias Jimenez after walking the North Avenue business strip
to offer assistance to area businesses that will be reopening as Chicago
moves forward.
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Are You Open for Business?
Send
your info to the NW Connection
with a link published in upcoming issues of the eNews.....
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Easy-to-Use Flowchart for New Tax Credits -
The IRS recently issued an easy-to-understand flow chart (
Publication 5419, New Employer Tax Credits
) to help employers understand the Employer Retention Credit, and credits for paid sick and family leave. Using the document, employers can quickly determine whether they are eligible, the amount, and which wages apply to the credits.
Proposed Regulations for Carbon Capture -
The Treasury Department and the IRS recently proposed regulations to help businesses understand how legislation passed in 2018 can benefit those claiming carbon capture credits.
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The IRS has several free enewsletters with tax tips, topics of use to businesses, and a wide range of resources. To subscribe,
Click here
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"Be Safe" Guidelines For Reopening
The City of Chicago issued comprehensive Guidelines, per industry, for a safe transition.
Click
on type business to view/download:
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up-to-date info' about programs, resources, events and
webinars. Click
HERE
to Check out our website
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The City of Chicago Department of Business Affairs & Consumer Protection sponsors a wide range of webinars. Whether you're starting a new business, or managing an existing ones - Make BACP a starting point.
Click for a schedule
of webinars
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WIDE OPEN SPACES...
Strolling thru a Farmer's Market will be different in 2020, given masks and social distancing, but a nice outing after sheltering in place.
Here are several lists to browse
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Get Your Free Copy of NWCC's
Business & Shopping Resource Guide
for a softcover print copy, call Pete Schmugge
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The NW Connection Chamber of Commerce, a delegate agency of the City of Chicago Department of Business Affairs, is funded to provide assistance to the
Cragin, Hermosa, Humboldt Park, and North Austin Communities.
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