Oregon grant program designed to attract new businesses

OREGON – The City Council has approved a new grant designed to spur commercial development.

The Commercial Lease Subsidy Grant program will pay up to half of monthly lease costs for new businesses, up to one year.

“Qualified applicants may be eligible for lease subsidies in an amount not to exceed $600 per month, or 50% of monthly lease payment for a period up to 12 months,” City Administrator Darin DeHaan said.

The maximum grant cumulative benefit is $7,200.

“We are looking for unique businesses to fill the available commercial space in our Historic District and Riverfront Zone,” DeHaan said. “We will work directly with building owners and entrepreneurs to offer this incentive to potential businesses that fit our community needs. Our services will include helping to market available space; working to create space specifications that are available for potential businesses; and/or to actively reaching out to potential businesses.”

The program is designed to help small, entrepreneurial businesses, Mayor Ken Williams said.

“We know we need more retail downtown,” Williams said. “This is designed for small entrepreneurial businesses that rent. We are looking for retail we don’t have. No bars or restaurants; we’ve got those.”

The program should increase tax revenues for the city while helping building owners find tenants, Finance Commissioner Terry Schuster said.

About five locations are available downtown, DeHaan said.

The city’s contributions would end after one year, Williams said.

“This is not renewable; we feel at the end of year they should be sustainable,” he said.

Interested building owners and potential grantees can call 815-732-6321 for more information.

Earleen Hinton

Earleen Hinton

Earleen creates content and oversees production of 8 community weeklies. She has worked for Shaw Newspapers since 1985.