[OMS_MANAGERS] Facade Improvement Grants

[HARVEY W SCHUBOTHE]

Rebecca

I will get you our application material that will be more detailed as well as provide an analysis and survey that I did of existing programs in the state that is dated but was the basis for establishing our program. Ours is a forgivable loan program….that is you  can borrow up to $10,000 which you are to match 50-50. No loan payments are required, there is not interest and at the end of a year, 20% is forgiven if you are still in business. So by year five, the entire loan is forgiven. That has been the situation for all but one of our loans so ion effect they have become defacto grants.

Our funding source was initially urban renewal. As not all of our businesses are in that district, the City was convinced to establish the same program with the same rules throughout the City using a $30,000 a year set aside originally for economic development loans that were not being taken advantage of because of the interest rate.

Otherwise we do not have different dollar amounts. Everyone can apply for up to $10,000.

I will get that other material to you.

Harv
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From: Rebecca Hollenbeck<mailto:executivedirector at historicwillamette.com>
Sent: Friday, February 4, 2022 12:52 PM
To: Oregon Main Street program managers<mailto:oms_managers at omls.oregon.gov>
Subject: [OMS_MANAGERS] Facade Improvement Grants

I’m working with the City of West Linn on possibly including Façade Improvement Grants into our ARPA Funding package.  I was hoping to get examples already being done by other cities around the state.

Some of the questions we had were:

  *   How much do you offer?
  *   How much of a match do you require?
  *   Do you have different dollar amounts for buildings/facades that only benefit a smaller building/business vs a larger building with multiple businesses/doors/facades?

If you could also provide links to the information online it would be appreciated!!

Thank you for you in advance for your assistance!

Rebecca Hollenbeck
Executive Director
HISTORIC WILLAMETTE MAIN STREET
executivedirector at historicwillamette.com
503-607-8033

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Historic Willamette Main Street's mission is to celebrate and preserve the rich history and natural beauty of the area, invest in the heart of our downtown by promoting our local businesses. Our purpose is to foster an inclusive, diverse community where local residents and visitors feel welcome to dine, shop, connect and socialize with others.


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