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financial institutionÓs own risk until the total Scope of Work has been approved by the EDA <br />and the loan has been closed. <br />XVI. BUILDING FAÇADE GRANTS <br />In order to encourage building façade improvements that are more aesthetic in nature, a grant of <br />up to $5,000 is available provided that at least $20,000 worth of other work is done. The grant <br />works as follows: <br />Up to $2,000 in grant money will be awarded to an owner to make façade improvements to <br />buildings provided that at least $20,000 in other improvements which are eligible under the <br />RLGP are made. An additional grant of $500 is available for each additional $5,000 of eligible <br />improvements, up to a total grant of not more than $5,000 per project. Additional grants are <br />permitted consistent with the above outlined formula, but shall not exceed $5,000 per project, or <br />a total of $5,000 per property, in a 10-year period. <br /> <br />Eligible grant expenditures include repairing, replacing and installing of <br /> siding <br /> brickwork <br /> mansards <br /> cornices <br /> entrances <br /> exterior doors and windows <br /> decorative details <br /> awnings <br /> exterior lighting <br /> signage <br /> building identification <br /> <br />Prior to incurring expenses for which a grant is sought, applicants must have the proposed work <br />approved in writing by the City EDA staff. Grant monies are not available for Ðsweat equityÑ. <br />Grants will be distributed upon final inspection by the City and submittal of a paid invoice. <br /> <br /> <br />7 <br />12 <br /> <br />