Most of those funds are allocated toward low-income housing, but a portion has been set aside to improve commercial properties within the Enterprise Zone. This money is used to fund the Commercial Loan Program.
All projects are subject to historic review.
Grant is packaged as a loan with a lien placed on the building. Property must be kept free of graffiti and blight for a five-year period and the lien is released. Additional funds for limited architectural assistance are available and strongly recommended. Additional funds for limited architectural assistance are available and strongly recommended. The applicant must still qualify based on prudent loan standards.