Title
FAPS Façade Improvement Program (B)
Explanation
The Fifth Avenue/Pleasant Street (FAPS) has a number of commercial properties in a state of disrepair, yet this Redevelopment Area currently has no program to provide CRA incentives or assistance to these types of projects. At the September and November FAPS meetings, the advisory board discussed reopening a façade grant program for the FAPS Redevelopment Area. Staff has prepared a draft façade grant program for commercial properties within FAPS. This program is very similar to the existing façade grant programs which are currently in place in other GCRA Areas. The FAPS façade grant program has received review, input, and approval from the FAPS advisory board and if approved by the CRA, staff is prepared to implement the grant program immediately.
The program provides an incentive to owners or tenants (with owner consent) of buildings and/or businesses who wish to improve the facade of their commercial property. The program is open to commercial properties along NW 5th Avenue from NW 13th Street to NW 4th Street and NW 8th Avenue from NW 6th Street to NW 13th Street. The program provides a dollar for dollar matching grant; the grant is paid as reimbursement upon project completion. Applicants are eligible for grants up to $5,000 to improve building facades, buildings with multiple floors, storefronts, or storefronts larger than 30-ft are eligible for up to $10,000 in grant funding. Applicants are responsible for providing a dollar-for-dollar match for all grants awarded through this program.
The program is a competitive grant program; applicants will be evaluated according to a point system. Façade grant funding levels will be determined by how well a project meets the point system criteria:
* Under 10 points = up to 20% of the maximum level of funding eligibility
* 10 – 14 points = up to 50% of the maximum level of funding eligibility
* 15 – 19 points = up to 70% of the maximum...
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