Downtown Loans are meant to encourage investments within the Downtown Urban Renewal District in ways that contribute to its economic vibrancy and established goals. This flexible financing program supports unique redevelopment opportunities, specific downtown redevelopment challenges, as well as individual project financing needs in a way that help make our downtown dreams a reality.
Funds can be used for but are not limited to:
Building rehabilitation or renovation
Interest rate is fixed, typically below market, for the term of the loan.
Repayment terms are structured to meet individual project needs.
$50 non-refundable application fee
1% loan fee
$75,000 - $500,000: dependent upon availability of funds. Applications for larger or smaller loan amounts may be considered on a case-by-case basis.
Project financing will not exceed 50% of overall project budget.
Located within the Downtown Urban Renewal District (see map below)