The Downtown Revitalization Loan Program is a flexible financing program designed to encourage investments within the Downtown Urban Renewal District that contribute to the economic vibrancy and density goals for downtown. The program is also designed to be responsive to unique redevelopment opportunities, specific downtown redevelopment challenges, and specific individual project financing needs. Program funds may be used to aid in:
Building rehabilitation or renovation
Other Related Information
$50 non-refundable application fee
1% loan fee
The interest rate is fixed, typically below market, for the term of the loan.
$10,000 - $500,000: dependent upon availability of funds.
Applications for larger or smaller loan amounts may be considered on a case by case basis.
Repayment terms are structured to meet individual project needs.
Project financing between 25-50% of eligible project costs.
Related Closing Costs Eligibility
Located within the Downtown Urban Renewal District (see map below.)
Acceptable collateral generally includes: