The Finish Line Grant is a grant program geared towards assisting property owners with rehabilitation and property improvement projects. With the Finish Line Grant, we are not only supporting local commercial and mixed-use property owners, but our goal is to increase the economic viability of downtown Aurora as a whole.
If you believe you are eligible and your property could greatly benefit from a Finish Line Grant, simply click the “Apply Now” button to be taken directly to the application.
To assist property owners in the completion of rehabilitation projects in downtown Aurora
Property that will be rehabilitated must be commercial or mixed-use property within the downtown TIF District, TIF 1 and a portion of TIF 3.
The Finish Line Grant Boundary map below shows the boundary in which properties would be eligible for the Finish Line Grant.
The grant amount will range from 20 percent to 50 percent of the total rehabilitation costs, but not to exceed a total amount of $75,000. The grant amount will be determined on a case-by-case basis.
An example of grant amounts per project cost are shown in the chart below:
|Project Amount||Grant Amount|
Application & Project Details
Once Invest Aurora has received the application, we will review it in its entirety and make a decision. If the project is approved, you will receive a Certificate of Eligibility.
The project must then be completed within 180 days of receiving a Certificate of Eligibility from Invest Aurora. This is determined by securing a Certificate of Occupancy (or equivalent) from the City of Aurora within that 180 days time frame. If no Certificate of Occupancy (or equivalent) is acquired, the Certificate of Eligibility will become invalid and no previously agreed upon funds will be dispersed.
This grant money will be dispersed in the form of a reimbursement once the project has been completed. The property owner must present Invest Aurora with a proof of waiver for all liens on property, proof of payment for completed work, and a copy of the Certificate of Occupancy from the City of Aurora before the reimbursement can be sent out.
The commercial uses outlined below are NOT permitted as a use for the first three years following the building’s rehabilitation:
- Rooming and boarding / Single room occupancy
- Used clothing stores
- Pawn shops
- Flea markets
- Pay day loan stores / Currency exchanges
- 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
However, should one of these uses already exist in the buildings prior to rehabilitation, that use will be allowed to continue.