The Regional Site Readiness Program’s Capital Ready Grant Program is to support infrastructure and other capital improvements on sites across the state to advance site readiness of properties with industrial and manufacturing economic development potential.
Donor Name: Illinois Department of Commerce and Economic Opportunity
State: Illinois
County: All Counties
Type of Grant: Grant
Deadline: 10/21/2024
Size of the Grant: More than $1 million
Grant Duration: 2 Years
Details:
The Regional Site Readiness Program aims to better prepare sites for industrial development in all 10 Economic Development Regions in the state.
Input from community leaders and economic development experts has raised the need for flexible funding to support infrastructure and other capital improvements related to preparing sites for future development.
Purpose of the Program
- To support communities and landowners in their site readiness capital improvements
- To address financial barriers to construct infrastructure needed to make a site more readily developable
- To increase the number of sites ready for future industrial site development
- To better prepare sites in all 10 Economic Development Regions for future development
Funding Information
This grant program is utilizing state capital funds consistent with the purpose of this initiative appropriated by the Illinois General Assembly. The total amount of funding expected to be awarded through this NOFO is $40,000,000. Awards will range from $250,000 to $3,000,000.
Grant Period
The period of performance is expected to be January 1, 2025, through December 31, 2026.
Uses of Funds
The Regional Site Readiness Program Capital Ready funds may be used for, but not limited to, the following activities:
- Land acquisition and related expenses
- Appraisal, surveying, real estate, and legal fees
- Title transfer taxes
- Land preparation, if done as part of a larger grant funded, bondable project
- Clearing, grading, drainage
- Infrastructure expenses
- Utility construction
- Roadway construction
- Water and sewer construction
- Rail access
- Environmental remediation, if done as part of a larger grant funded, bondable project
Eligibility Criteria
Eligible Applicants include:
- Local governments
- Economic development organizations
- Nonprofit organizations
- For-profit organizations
- Private landowner
For more information, visit DCEO.
