Facade Improvement Loan/Grant Program - Old Town

The Facade Improvement Grant Program is a matching grant program of the City of Bandon Urban Renewal Agency beginning July 1, 2012. The loan must be matched by a private cash investment, with a maximum loan amount of $10,000 or 70% of the total project cost, whichever is less.  Loans are interest free, forgivable, and will generally be awarded on a first-come, first-serve basis for qualifying projects within the dollars allocated for the program.

Program Objectives

The purposes of the Facade Improvement Grant Program are:

• To improve the appearance of existing business buildings in the Urban Renewal District through facade  renovation
• To restore the unique historic character of buildings in the City as much as practicable
• To encourage private investment in downtown properties and businesses

Projects must achieve visible results that enhance Bandon’s downtown esthetic image, marketability, and   economic vitality.

Eligibility

The following persons are eligible to apply and receive funding under this program:

• Property owners of commercial or industrial buildings within the Urban Renewal District
• Business owners or tenants of commercial buildings within the Urban Renewal District, with the written permission of the property owner

To be eligible, and to continue qualifying for loan forgiveness as provided in Section VI, a business must be open and operate an average of at least four days a week and maintain business hours of at least eight hours per day during each of the first four years following the date the City issues the loan check.

Eligible Improvements

Funds may be used for existing exterior Facade improvements and permanent signs on commercial buildings in compliance with Bandon ordinances. For purposes of this program, “Facade” includes the exterior of any street facing building wall, but does not include interior, roofing, structural improvements, or other site improvements except as specified below.

Examples of the types of eligible projects include:

• Cleaning, preparation, and painting exterior walls and trim in colors acceptable to the City
• Repair, replacement or installation of awnings, windows, doors
• Repair or reconstruction of entryways
• Repair, replacement or installation of exterior masonry or siding materials
• Removal, repair or replacement of signs
• Work on cornices, gutters and down spouts
• Removal of barriers to access for people with disabilities

Ineligible Activities

Examples of projects that are ineligible or activities for which use of funds is prohibited include:

• Refinancing of existing debt
• Interior improvements
• Roofs
• Structural foundations
• Financing of Inventory
• Financing of building acquisition
• Working capital

Financing

The City loan must be matched by a private cash investment with a maximum loan amount of $10,000 or 70% of the total project cost, whichever is less.  Loans are interest free, forgivable, and will generally be awarded on a first come, first serve basis for qualifying projects.  Payment of the maximum loan amount will be made by the City upon completion of the project and the presentation of receipts showing the amount and form of the private investment.  Reimbursement of the applicant or property owner’s labor is not eligible.

No loans will be made for any multi-phase project, or portion of a project, the total cost of which exceeds $50,000.

The Facade Improvement Loan will be interest free and forgivable at the rate of 25% of the loan amount at the end of each of the four years the same business remains at the same location and remains open as defined in Section III.  Collateral, in a form and amount acceptable to the City of Bandon, will be necessary to secure each loan.  

Application and Approval Process

Return the completed Facade Improvement Loan/Grant Program application to:

Bandon Facade Improvement Program
City of Bandon
P.O. Box 67
555 Highway 101
Bandon, OR 97411

For further information, contact the City of Bandon at 541-347-2437 or citymanager@ci.bandon.or.us.

Applications will be reviewed with the assistance of the Facade Improvement Program Subcommittee of the Greater Bandon Association.  Determining eligibility, ineligibility, qualification, disqualification, approval, or disapproval of any project for funding through the Facade Improvement Loan Program will be at the sole discretion of the City of Bandon.