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/DocumentCenter/View/3344
Indicate the total estimated cost of your project.
The standard loan max is $100,000, but larger amounts may be requested and considered.
Applicants must meet with project staff prior to applying. Meetings can be in person or held virtually via phone, video conferencing, etc.
The purpose of the meeting is to review program rules and application requirements, and to coordinate design services for applicants who are interested.
It is recommended that all applicants read the program guidelines prior to applying.
All projects must include a façade improvement component and abide by the Secretary of the Interior’s Standards of Rehabilitation. Additionally, any project work that falls under the jurisdiction of the Historic District Commission (HDC) must seek separate approval from the HDC (e.g. windows, lighting, signage, etc.).
Projects must take place at properties which are located within the DDA’s TIF District and contribute to its captured value as taxable property. The property must be current on taxes owed. There shall be no outstanding fines or fees owed to the City.
Projects may require additional permits from the City of Coldwater or the Michigan Department of Transportation (MDOT) such as sign permits and right-of-way permits, among others. It is the responsibility of the applicant and their contractor(s) to secure proper permits for all project work. Some permits may require a fee.
Applicants must apply to the program before starting any project work. Here, project work refers to any work that the applicant is requesting rebate and/or loan funds for: paint, awnings, signage, tuckpointing or other maintenance activities, eligible interior upgrades, etc..
Rebate and Loan Pool amounts are based on criteria outlined in the program guidelines. The Review Committee is not required to award the maximum allowable rebate amount to a given project.
All loan amounts that are awarded by the Review Committee are preliminary; the reviewing financial institution may approve or reject the forwarded application according to its established credit practices. Projects will be evaluated on an individual basis to determine overall loan worthiness and calculate the base interest rate.
If approved for rebate and/or loan pool funds, projects must be completed as submitted and approved; changes to the project which impact any elements that the applicant is requesting rebate and/or loan funds for, and any work that establishes eligibility for the program, must be resubmitted and reviewed by program staff and/or the Review Committee. Projects that are not completed as submitted and approved will not be eligible for reimbursement, and may jeopardize financing through the low interest loan pool.
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