Southside Home Rehabilitation and New Construction Incentive Program (Phase 1)

The Southside Home Rehabilitation and New Construction Incentive Program is intended for larger projects that focus on a comprehensive rehabilitation of a home or the construction of a new home within the defined program area which includes sections of the Walter Jetton and Uppertown neighborhoods.

Donor Name: City of Paducah

State: Kentucky

City: Paducah

Type of Grant: Grant

Deadline: Ongoing

Size of the Grant: $20,000

Grant Duration: 1 year

Details:

The City of Paducah is dedicated to promoting and restoring the Southside region as a thriving, walkable and welcoming community for living and working. The City of Paducah offers a grant opportunity for home owners to improve their houses and create a beautiful mixed-use neighborhood.

This incentive provides a rebate on investments ranging from 15% to 20% or to a maximum of $27,000.

Program Parameters

The grant provides a reimbursement in the form of a forgivable, 0% interest loan to be applied toward an applicant’s investment in their property secured by a 5 year promissory note and mortgage.
Minimum: Minimum investment threshold for projects is $50,000 in value.
Maximum: While there is no maximum investment, grant awards will match up to 20% of eligible expenses. Criteria for reimbursement levels are as follows:
Eligible projects may be awarded 15% of the eligible expenses of the project, with a maximum award amount of $20,000.
Eligible projects choosing to participate in the optional Beyond Code program as outlined by Fire Prevention will be eligible for an additional 5% award for adhering to the 2021 IECC energy standard building codes. This award tier caps at 20% of the eligible expenses of the project, with a maximum award amount of $27,000.
Only owner-occupied units will be eligible to receive funds.
Required permits shall be obtained for each project as applicable. Any associated permit fees through the Fire Prevention Department may be included as a project expense.
The funds will only be awarded after completion of the approved project.
The project must be completed within 1 year of the date listed on the award letter unless a request for extension is submitted and an approval of the extension is granted. If the project is not complete and an extension is not granted, the applicant will be notified by letter and the allocated funds will be released and made available for distribution in the next round of applications.
Upon project completion, contractor must sign an affidavit attesting to the completion and paid status of the project, or must submit paid receipts for reimbursement. Staff verifies that the work was done according to the approved application before authorizing reimbursement. Typically, reimbursements are made within 14-21 days of the submission of approved receipts.