Center City Authority
COMMERCIAL CORRIDOR FAÇADE IMPROVEMENT PROGRAM
The City of Midland’s Center City Authority Commercial Corridor Façade Improvement Program (FIP) provides financial assistance to commercial property owners and business owners in the Center City Authority for qualified façade improvements. The purpose of the FIP is to support the beautification and economic revitalization of the Center City Authority commercial corridor by stimulating private investment in high-quality improvements that enhance the appearance of buildings and properties and eliminate blight and non-conforming design standards.
$150,000 is the total startup funding for this program provided to the Center City Authority by the Entrance Ways Initiative Fund of the Midland Area Community Foundation in the fall of 2014.
Program Description: The Façade Program offers the opportunity for business owners and tenants, together with property owners, to bring their commercial properties and buildings up to a standard set forth and approved by the CCA.
Financial Award Eligibility: With CCA approval, a property may receive up to $15,000 in façade improvement support in a seven-year period.
Each Center City property may apply to receive up to $15,000 in façade support during a seven-year period utilizing a combination of the following:
· Receipt of no more than $5,000 in façade matching grant funding in a seven-year period The $5,000 in grant funding can be in the form of:
o A one-time mini-matching grant of up to $1,000 for eligible façade maintenance and/or
o Up to $5,000 in matching grant for eligible façade improvements
· No More than $10,000 in façade matching loan funding in a seven-year period
o Zero interest loan amortized over five years
o Repayment of loan made in annual installments over five-year period
Grant and loan amounts must be matched by the applicant on a dollar-for-dollar basis.
Applicants may secure additional financing in any manner they choose, including but not limited to a commercial mortgage, signature loan, home equity loan, personal or business line of credit, family loan, personal resources or business cash.
For more information including Applicant Eligibility and Application Form please download the full Facade Packet here.