2024-05-15 EDA Packet - Laserfiche WebLink

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XV. INELIGIBLE COSTS (LOAN PROGRAM) The following costs are ineligible: Refinancing of existing debts Non-fixed improvements Working capital Inventory Sweat equity (payment for the applicantÓs own labor and performance for construction of improvements) Internal improvements to mixed use buildings that involve the residential portion of the structure XVI. GRANT PROGRAM In order to encourage building façade and streetscape improvements that are more aesthetic in nature, grants between $2,000 and $5,000 are available provided there is a 1:1 match of private investment. For example, to qualify for a grant of $2,000, a total of $4,000 must be spent. For a $10,000 project, the maximum of $5,000 in grant money may be awarded. Multiple grants are permitted consistent with the above outlined formula, but shall not exceed $5,000 per project, or a total of $5,000 per property, in a 5-year period. For signage, 50% of the cost toward the sign will be paid on day one and the other 50% will be paid after one year, on day 366 if the business is still operational. XVII. ELIGIBLE COSTS (GRANT PROGRAM) The following are eligible expenses for either the public or private sector (matching) portion of the grant. Generally, all work on front and sides of commercial buildings facing public streets Façade masonry repairs Repairing, replacing and installing of cornices, entrances, exterior doors and windows, decorative details, awnings and exterior lighting New signage Sign removal, repairing and replacement Building identification Streetscape costs on private property Landscaping visible from the street Decks or patios used for business purposes 9