The City of Decorah is excited to announce the Downtown Economic Development Grant Program.
Donor Name: City of Decorah
State: Iowa
City: Decorah
Type of Grant: Grant | Reimbursement
Deadline: 11/22/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
The Decorah Downtown Economic Development Program (the “Program”) is a strategic initiative to revitalize Decorah’s downtown area by supporting property owners and long-term tenants in enhancing their buildings’ exterior and converting upper-story spaces into residential units. The required 3:1 match ensures that both the City and property owners are committed to the project’s success, fostering a collaborative approach to downtown revitalization.
Types of Grants
- Exterior Renovation and Repair Grants
- To encourage the preservation and improvement of the visual appeal of downtown buildings, maintaining the historic character and enhancing the overall streetscape.
- Interior Renovation Grants for Upper-Story Residential Conversions
- To promote the development of upper-story residential units in the downtown area, contributing to increased foot traffic, downtown vibrancy, and economic activity.
Funding Information
- Exterior Renovation and Repair Grants
- Grant Cap: Up to $10,000 per project.
- Required Match: 3:1 match by the applicant. For every $3 spent by the applicant, the city will reimburse $1, up to the $10,000 cap.
- Example: For a $15,000 project, the city would provide $5,000; for a $40,000 project, the maximum grant of $10,000 would apply.
- Interior Renovation Grants for Upper-Story Residential Conversions
- Grant Cap: Up to $25,000 per project.
- Required Match: 3:1 match by the applicant. For every $3 spent by the applicant, the city will reimburse $1, up to the $25,000 cap.
- Example: For a $60,000 project, the city would provide $20,000; for a $100,000 project, the maximum grant of $25,000 would apply.
Eligible Projects
- Exterior Renovation and Repair Grants
- Facade improvements (e.g., brickwork, painting, windows).
- Structural repairs (e.g., roofing, foundations, masonry).
- Accessibility improvements (e.g., ramps, door widening).
- Awning installations
- Interior Renovation Grants for Upper-Story Residential Conversions:
- Conversion of non-residential upper-story spaces into residential units.
- Major interior renovations for existing residential spaces (e.g., plumbing, electrical, HVAC, flooring).
- Safety and code compliance upgrades (e.g., fire suppression systems, emergency exits).
- Energy efficiency improvements (e.g., insulation, energy-efficient windows).
Eligibility Criteria
- Location: Projects must be located within the designated Downtown Decorah area.
- Ownership: Property owners or long-term leaseholders (with at least 5 years remaining on their lease) are eligible to apply.
- Project Scope: All projects must align with the city’s design guidelines and contribute to the economic vitality and aesthetic appeal of downtown.
- Compliance: Projects must comply with all local building codes, zoning regulations, and historic preservation guidelines (if applicable).
For more information, visit City of Decorah.
