Allentown Department of Community and Economic Development Director Sara Hailstone and Community Banking Regional President for Wachovia in Greater Pennsylvania David Miree made an exciting announcement today about a new Hamilton Street Façade Self Forgiving Loan Program, which will be a great way to help pay for removal of modern inappropriate materials, brick cleaning, window replacement, and lighting and sign repair or replacement.
It’s going to be awesome to watch the facades of our local downtown businesses get makeovers. How fun would it be to keep track of who’s getting the grants and post some before and after pictures!
“There is a lot of historic beauty on Hamilton Street,” said Hailstone. “This is a fantastic opportunity for commercial building owners to improve the appearance of their properties.”
The program has a total of $200,000, which includes city CDBG-R funds and a $100,000 grant from Wachovia Bank. Commercial building owners on Hamilton Street between 6th and 10th streets are eligible to apply for loans ranging from $20,000 up to $30,000. The program requires a dollar for dollar match and includes a 0% interest rate on a five-year self-forgiving loan.
The program is the result of a partnership made up of the city of Allentown, Wachovia Bank, The Greater Lehigh Valley Chamber of Commerce Foundation and the Hamilton District Main Street program.
Eligible applicants must be current on all taxes, licenses, and fees with the city. Property must be code compliant and proposed improvements must meet design standards and receive approval from the Hamilton Façade Self Forgiving Loan Application Committee.
Want more information? Contact the City of Allentown Business Development Liaison Duane Tolson at 610-437-5964
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1 comments:
What a fabulous idea! So many facades along Hamilton could use a little help.
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