City of Joliet Land Use & Economic Development Committee Agenda May 2026
TIF Forgivable Loan Approved for Matise Events
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Description
Joliet’s Land Use & Economic Development Committee approved a $79,500 TIF-funded five-year forgivable loan agreement with Matise Events LLC to install a sprinkler system at 113 N. Ottawa. Twenty percent of the loan will be forgiven each year the venue remains open, with a lien on the property until the loan is fully forgiven.
Contract Details
Contract Amount
$79,500
Vendor
MATISE EVENTS LLC
Agency
City of Joliet city, IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2026
Contract Term
5 years
Renewal Info
Five-year forgivable loan with 20% forgiven each year the business remains open until fully forgiven after five years; no explicit renewal options described.
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