Springfield, IL - Legislation sponsored by State Senator Maggie Crotty (D-Oak Forest) that will help restore abandoned buildings in Illinois so they can be used for business purposes has been signed into law. “This program will allow dilapidated buildings in the State to be revitalized,” said Senator Crotty.  “Most importantly, it will stimulate business growth while improving the appearance of our communities.”

House Bill 3637 creates a pilot program that authorizes the Department of Commerce and Economic Opportunity to make interest-free loans to businesses for the purpose of restoring, refurbishing, and retrofitting existing buildings that have been vacant for at least 90 days.  Once restored, these buildings will then be used by retail, professional, corporate, manufacturing, assembly, or distribution businesses.

This legislation will prohibit loans from being made for any building that would be used for residential purposes.