City of Joliet will give downtown businesses help with rent

The Joliet City Council has approved a program that will provide rent support to downtown businesses that lose revenue because of public construction projects outside their doors.

The $100,000 for the program will come from special taxes paid by property owners in the downtown business district.

The program comes as the city prepares to redevelop Chicago Street, the main street through downtown Joliet, and build a new city square. Projects already in the works include water main replacements along Joliet and Ottawa streets.

“We’re doing this program to be proactive,” interim City Manager Rod Tonelli told the council, which gave its approval Tuesday.

Council member Larry Hug, who leads the council’s Economic Development Committee, said money for the program will not come from the city’s general fund but from a special service area tax and tax increment financing district used to support the downtown area.

“This is a great thing downtown – to keep downtown vital,” Hug said.

The Business Interruption Program will provide up to $5,000 in rental assistance for up to three months for an individual business. The business is required to show a 15% loss of revenue attributed to city construction.

For the business to be eligible, the landlord also must participate and agree to forgive 50% of the rent.

Businesses can participate more than once if they are affected by more than one construction project.