The goal of this program is to provide renovation and rehabilitation funds for commercial properties within the Urban Renewal District, to assist in alleviating blighted conditions, to improve building structures, and to complement local design characteristics.
The Program
- Loan Program for commercial properties in the Urban Renewal District
- Loan funds are subject to availability of annual funding
- Property owners must have 30% equity
Property Owners
- $50,000 maximum secured loan to property owners per property
- 0% interest rate
- Loan Processing and closing costs paid by borrower
- Ten -Year payback, fully amortized through monthly payments
- Up to 20 hours free design consultation (maximum $1200)
Business Owners
- $5,000 maximum personally guaranteed loan to business owners
- 0% interest rate and
- Loan processing and closing costs paid by borrower
- Five-Year payback, fully amortize through monthly payments
- Up to 10 hours free design consultation (maximum $600)
Funds can be used for structural and static building improvements, but must include facade improvements.
For More Information, please contact (541) 996-1095
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