CHICAGO — Financial relief is on the way for businesses in Cook County amid the COVID-19 outbreak.
Cook County Board President Toni Preckwinkle announced Thursday that she will be waiving county fines and fees, and deferring taxes. She said this should save local businesses as much as $35 million.
Additionally, the Department of Administrative Hearings is postponing cases until April 15, and commercial business inspections are being suspended until April 15. Building and zoning violations are being waived unless something is deemed to be dangerous.
All of these measures, and more, will affect the county’s cash flow but leaders said they have already been preparing for a downturn and they do have some reserves.
According to the Chicago Chamber of Commerce, Cook County officials met with them and asked them specifically what would help businesses weather this storm — and the county listened.
Businesses are calling this is the right thing to do at the right time.
“They need cash flow. They need access to cash. This is exactly what this measure will do for them to be able to pay employees and do what they need to do when this stay at home order is lifted,” said Tanya Triche Dawood, Illinois Retail Merchants Association.
These breaks do not apply to property taxes. See full details from Preckwinkle below: