The Burlington Downtown Corporation (BDC) is currently accepting applications for its Building Rehab & Modernization Grant Program to support and encourage property improvements.
Donor Name: Burlington Downtown Corporation (BDC)
State: North Carolina
City: Burlington
Deadline: 10/01/2022
Type of Grant: Grant
Grant Size: up to $25,000
Details:
This is a deferred loan program for improvements to downtown buildings.
Funding Information
- This is a 50-50 matching program up to $25,000 per building.
- For businesses that stay three years, the loan becomes an interest free grant.
- For businesses that leave before the three years a pro-rated loan amount must be repaid. The three-year period starts from the date the grant is made.
Grant activities can fall within the following categories:
- Exterior Façade Rehabilitations – A maximum of $7,500 will be available per façade. All facades visible from the street will be eligible. Rear or side facades are not eligible on their own without an improved front façade. The program is structured as a three-year deferred loan, meaning that after three years, if the building is maintained, the loan becomes an interest-free grant. Eligible expenses can include wood and masonry repair, window repair, exterior painting, appropriate cleaning of brick or masonry, roof repair or replacement, awning installation and signage. Roof repair/replacement is subject to the façade maximum of $7,500.
- Signage – In most cases signage (including awnings) will be reimbursed at a maximum of $3,000 per sign on a 50-50 matching basis. In some cases, restoration work to signs that can be considered either historic or integral to the building’s façade, such as a theater marquee, can be eligible for up to $7,500 on a 50-50 matching basis. This determination is at the grant selection committee’s discretion.
- Interior – This program addresses modernization of the interior shell of downtown buildings. This can include remodeling and upgrades to plumbing, HVAC, electricity, fiber optics, energy efficiency improvements and improvements related to the Number 1 fire district
Eligibility Criteria
Downtown Property and/or Business Owners located within the boundaries of the downtown Municipal Service District are eligible to apply for the BDC Small Grants Program.
For more information, visit Burlington Downtown Corporation.