Skip to content

SUPPORT NEIGHBORHOOD BUSINESS DISTRICTS

SUPPORT NEIGHBORHOOD BUSINESS DISTRICTS BY REDUCING COMMERCIAL VACANCIES

Struggling neighborhood business districts are often plagued by vacant properties. These commercial vacancies impact local economies, foster criminal activity and devastate communities.

Local governments can reduce the property taxes owed by commercial property owners when their properties, or a portion of those properties, are vacant. While most property owners that receive this tax break are legitimately attempting to sell, lease or improve their properties, others take advantage of this relief.

 Legislation should be enacted to stop commercial property owners from receiving a tax break when they are not attempting to lease, sell or improve their spaces.

We support legislation that will do the following:

  • Require property owners that receive a tax reduction to follow through on their promise to make legitimate attempts to sell, lease or improve their spaces
  • Hold property owners who improperly receive a tax break at the expense of local communities and other taxpayers accountable
  • Reduce commercial vacancies in neighborhood business districts
  • Revitalize neighborhood business districts, create local jobs, and foster the growth of local economies
  • Provide property owners legitimately attempting to sell, lease or improve their properties a tax reduction to offset losses associated with vacancy

There has never been a more important time to advocate for policies that will reduce vacancies in neighborhood business districts.

 

Endorsements:

Southeast Chicago Commission

Rogers Park Chamber of Commerce

Edgewater Chamber of Commerce

Six Corners Business Association

Pulaski Elston Business Association

Jefferson Park Chamber of Commerce

Building Strong Millennials

Gladstone Park Chamber of Commerce

Uptown United and Uptown Chamber of Commerce

Lincoln Park Chamber of Commerce

Logan Square Chamber of Commerce

Greater Englewood Chamber of Commerce

North Lawndale Chamber of Commerce

South Shore Chamber of Commerce

Lakeview Roscoe Village Chamber of Commerce

Rogers Park Business Alliance

Cook County Black Chamber of Commerce

Garfield Park Chamber of Commerce

Belmont-Central Chamber of Commerce

Woodlawn Chamber of Commerce

Insights Archive

Ordinance Makes It Easier for Entrepreneurs to Operate Home-Based Businesses in Chicago

By growthzone | January 24, 2021

The pandemic has cost Chicagoans jobs and recently unemployed individuals may explore starting their own business. However, these budding entrepreneurs may not have the funds to rent space. Indeed, even more established entrepreneurs may need to consider moving their businesses into a residence for the time being given the economic impact of the pandemic. This is…

Crucial Legislation Filed to Get People Back to Work

By growthzone | January 22, 2021

RISE Action Call – SIGN HERE PRESS RELEASE: CHICAGO, ILLINOIS, UNITED STATES, February 22, 2021 /EINPresswire.com/ — Representative Jennifer Gong-Gershowitz has filed the RISE Act in the General Assembly.  The Small Business Advocacy Council (SBAC) urges legislators to pass the RISE Act (Recovery Initiative to Support Employment) to get people back to work and support…

Business Interruption Insurance

By growthzone | January 21, 2021

WHAT IS BUSINESS INTERUPTION INSURANCE? The COVID-19 pandemic has had a devastating impact on individuals, families and communities. The pandemic is also causing tremendous financial hardship on small and local businesses. Typically, businesses will carry business interruption insurance to cover for potential extended closures caused by extraordinary circumstances. Competent business owners have done their due…

Scroll To Top