Crystal Lake to award grant money to local businesses

Crystal Lake will give up to $750,000 in grants to sales-tax generating businesses that have suffered revenue loss due to COVID-19.

Economic Development Manager Heather Maieritsch said the state-funded grant Crystal Lake got from the Illinois Department of Commerce and Economic Opportunity is for $600,000 and the city added an additional $150,000.

“I understand it’s holiday time, and it’s really busy for businesses, but at the same time, with the DCEO grant, if people don’t apply, and the city doesn’t end up paying out that $600,000, we lose it,” Maieritsch said. “We really want it to go to the businesses in the community because we know that they need it, and it’s a very simple, streamlined grant to apply for.”

To be eligible for the grant, establishments must be a sales tax-generating business with annual sales not exceeding $4 million and the businesses must generate walk-in traffic. Franchise businesses, home-based businesses, home occupation businesses, professional and medical businesses and businesses with more than three business units, and prior recipients of the state’s Business Interruption Grant, are ineligible.

The amount a business is awarded is determined by the sales tax figures submitted to the Illinois Department of Revenue from March 1 through Sept. 30, 2020, compared to the same time period in 2019. Businesses that experienced less than a 50% revenue loss would be awarded $5,000, while businesses that had 50 to 75% less revenue would get $10,000, and businesses with a more than 75% revenue loss are eligible for $15,000.

Impacted Business Relief Grants have been approved, and grant funds have been given to 24 businesses already, making for a total of $200,000 in financial assistance already received. Businesses that have already gotten grant funding are Andy’s Restaurant; Around the Clock Restaurant; Cottage on the Beach; Crystal Lake Gymnastics; Da Buffone Cucina Italiana; D’Andrea Banquets; Goal Line Sports Bar ; Independent Auto Craft; Matt’s Tavern; Metro Bowl; Mookie’s Steak & Seafood; Mum 117; Nick’s Pizza; Old Towne Hall; Olive Tap; Ormsby Motors; Out of the Box; Paul Hyland Salon & Day Spa; The Clothes Gallery; The Cottage; Twisted Stem; Vine and Plate; Wear Did U Get That and Williams Street Tap.

Crystal Lake is still accepting applications, which will be approved on a continual basis until funds run out, or until the state’s funding expires on Jan 31.

Maieritsch said the city has already received an additional 20 applications for grants in amounts ranging from $5,000- $15,000, which they will begin processing for payment.

Businesses that applied within the last couple of weeks are already getting paid out and receiving funds, she said.

“There’s a quick turnaround,” Maieritsch added.

The grant application is currently available on the City’s website at www.CrystalLake.org under the Business Resources page. For more information, those interested can contact Maieritsch at economicdevelopment@crystallake.org or via phone at 815-356-3737.