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 The
Division of Community Development offers financial assistance through
the following Commercial Rehabilitation Programs:
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Downtown Improvement
Loan Program
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Purpose:
To
provide for the acquisition,
demolition and/or rehabilitation
of commercial
properties in
the downtown area.
Eligible Activities: Rehabilitation
of building, exteriors and
interiors, mechanical systems
and
structural repairs, code
and life safety issues, acquisition and/or demolition.
Applicant Eligibility: Applications
must include a business plan
with 2 years of
financial
projections.
Interest Rate/Term:
3%
/ 10 years
Matching Funds:
Must provide or
secure a matching amount (50% of
project cost) in part or total from
a participating lending
institution, owner and/or insurance
company, or owner-equity.
Maximum Loan :
$50,000
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Commercial Rehabilitation
Loan Program
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Purpose:
To provide for the
rehabilitation of commercial
properties
city wide.
Eligible Activity :
Rehabilitation of
building exteriors, interiors, mechanical systems and
structural repairs.
Applicant Eligibility :
Applications must include a
business plan with
2 years of
financial projections.
Interest Rate/Term:
3%
/ 10 years
Matching Funds:
Must provide or
secure a matching amount (50% of
project cost) in part or total from
a participating lending
institution, owner and/or insurance
company, or owner-equity.
Maximum Loan:
$50,000
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Elevator
Grant Program |
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Purpose:
To provide financial
assistance
for installation of a
common
elevator serving adjacent multi-story commercial buildings
which are privately owned,
taxable
and located in the
downtown
area.
Eligibility:
Buildings must be at least 3 stories tall and located
in the designated downtown area. To determine if your
property is in this area please call 513-3126.
Maximum
Grant:
Based
on the amount of new, private investment being made in the
property. For each $4 of investment the City will grant $1
toward the acquisition and installation of an elevator.
The maximum grant for one project is $80,000. To qualify
for the
Maximum
grant an investment of
$320,000
would be required.
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Façade
Grant Program |
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Purpose:
To provide financial assistance
to improve the facades of privately-owned, taxable,
commercial buildings in
downtown
Lewiston.
Eligible Activity:
Must be located in
designated area of the downtown.
 To
determine if yourn property
is in this area
please call
513-3126.
Applicant
Eligibility:
Must be willing to improve the entire façade of
thebuilding.
Matching Funds:
Must provide or secure
50% of the total costof the project.
Maximum Grant:
$25,000 per address
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