The City of Aurora Finish Line Grant program offers gap financing solutions to Downtown property owners seeking to complete property rehabilitation and improvement projects.
Program Eligibility
Program eligibility for Finish Line Grants is limited to commercial and, or mixed-use properties located within Aurora’s downtown Tax Increment Financing (TIF) TIF District 1 and a portion of TIF 3.
Application Process
All applications submissions are reviewed in their entirety by the City of Aurora’s Mayor’s Office of Economic Development (MOED).
Program inquiries can be directed to the MOED office:
- Office: (630) 256-3100
- Email: martinezm@aurora.il.us
Grant Awards
The monetary value of each grant is determined by the overall project cost. Grant awards typically range between 20% and 50% of total rehabilitation costs depending on project details but are not to exceed more than $75,000.
See an example of the estimated project cost and award total to the right.
Fund Disbursement
Grant awards are dispersed in the form of reimbursement following the completion of the project. To receive funds, property owners must present Invest Aurora with the following:
- proof of waiver for all liens on property,
- proof of payment for completed qualifying work,
- and a copy of the properties Certificate of Occupancy from the City of Aurora
If no Certificate of Occupancy is acquired, the Certificate of Eligibility will become invalid and no previously agreed upon funds will be dispersed.
| Project Amount | Grant Amount |
| $10,000 | $5,000 |
| $25,000 | $11,000 |
| $50,000 | $18,500 |
| $75,000 | $23,500 |
| $100,000 | $28,500 |
| $150,000 | $38,500 |
| $200,000 | $48,500 |
| $250,000 | $58,500 |
| $300,000 | $68,500 |
| $332,500+ | $75,000 |
Program Stipulations
Within the first three years of project completion, properties must follow City-approved commercial use guidelines when filling the space. However, should an unpermitted use be in operation at the commencement of construction, it will be allowed to continue beyond project completion.
Unpermitted Commercial Use
- Rooming and boarding / Single room occupancy
- Used clothing stores
- Pawn shops
- Flea markets
- Pay day loan stores / Currency exchanges
- Laundromats
- Barber shops / Hair dressers
- Tattoo parlors / Massage parlors
- Gun clubs / Shooting ranges
- Vapor or electronic cigarette stores
- Drug paraphernalia stores
- Packaged liquor stores
- Religious uses / Nonprofits