These programs may be used for commercial buildings located within the Downtown Redevelopment Area, 4th Street to the Mississippi river between Spring Street and the railroad tracks. Interest reduction program. Reduces the interest rate on rehabilitation loans made by another lender. Rehabilitation loan program. Partial financing of substantial rehabilitations.
Exterior improvements program.
Small grants to assist permanent repairs or historic restoration improving exterior appearances. Historic Tax Credit for Certified Rehabilitation. Available for substantial rehabilitation of income properties listed on the National Register. This could be used for many downtown commercial buildings. Twenty percent of the investment in a rehabilitation meeting historic standards can be certified as a credit against federal income taxes.