FACADE IMPROVEMENT LOANS

To assist and encourage facade improvements of business in and around downtown areas, but will also consider assistance to retail and tourism business outside the downtown.

Eligible Activities:

• Capital costs of facade improvements including, but not limited to, storefront improvements, signage, lighting, awnings and other facade related enhancements.

Eligible Costs:
Eligible costs are any direct capital costs of the project based on contractors quotations or invoices of supplies.

Funding Details:
Non-interest bearing loans up to $10,000 with a maximum amortization of five (5) years.

Requirements:
Facade Improvement Loan Application with supporting documentation (see application for details).

RETROFIT LOANS

To assist and encourage the development of vacant, underutilized or derelict industrial, commercial or retail properties, which would then provide organizations with development and job creation/retention potential.

Eligible Activities:

• Capital costs of retrofit;
• Design plans and/or feasibility studies;
• Engineering studies;
• Environmental studies.

Eligible Costs:
Eligible costs may include, but are not limited to:  any direct capital or non-capital costs of the project.  Only costs which relate directly to the eligible activities will be allowed.

Funding Details:
Repayable, non-interest bearing loans with a maximum amortization of 10 years.

Requirements:
Loan Application, Business Plan and supporting documentation.

Applications accepted until December 31, 2008
with all work completed and expensed
not later than February 27, 2009