Commercial Property Improvement & Professional Design Assistance
Commercial Property Improvement & Professional Design Assistance
Commercial Property Improvement & Professional Design Assistance Purpose The appearances of the City’s Redevelopment Area Commercial Districts play an important role in creating a positive image of the business districts to attract new businesses and encourage business expansion. This program will provide incentives for businesses located in the Redevelopment areas. This program will provide assistance for improving the interior and exterior of all commercial buildings to meet building codes, increase occupancy and improve the business climate in the form of a 0% interest rate loan, forgivable after 2 years with a maximum amount of $50,000. In addition to commercial property improvements, projects may be eligible for professional design assistance in the form of a 0% interest rate loan, forgivable after 2 years with a maximum amount of $20,000. Eligibility Commercial properties located in any one of the five CRAs are eligible to apply for grants, provided the business is a conforming use and has a Business Tax Receipt (BTR). Project funding Existing or New businesses may receive awards up to 80% of the total project cost with no single grant exceeding $50,000 for Interior and Exterior Improvement. For projects seeking design and improvement funding, the design grant will be a 50% match, up to $20,000 from the applicable Redevelopment Trust Fund. Application Application (PDF) Additional information about the Commercial & Design Assistance (PDF)
