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Allentown City Unveils Facade Program |
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Written by Administrator
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The City of Allentown is taking applications for a new Hamilton Street Facade Self Forgiving Loan Program.
The $200,000 program is a partnership of the city, Wachovia Bank, the Greater Lehigh Valley Chamber of Commerce Foundation and the Hamilton District Main Street program. It includes city CDBG-R funds and a $100,000 grant from Wachovia Bank. Allentown Department of Community & Economic Development Director Sara Hailstone and Community Banking Regional President for Wachovia in Greater Pennsylvania, David Miree made the announcement this morning during a news conference in City Council Chambers. Miree presented a check to the city and the chamber on behalf of Wachovia Bank.
Commercial building owners with properties located on Hamilton Street between 6th & 10th streets are eligible to participate. Loan amounts range from a minimum of $20,000 to a maximum of $30,000. A dollar for dollar match is required. Terms include zero percent interest on a five year self-forgiving loan.
"There is a lot of historic beauty on Hamilton Street," said Hailstone. "This is a fantastic opportunity for commercial building owners to improve the appearance of their properties."
"At Wachovia, we are heavily invested in Allentown and its future," said Miree. "This grant will expand the reach of Allentown's successful Street Façade Loan Program, and will result in a Hamilton Street corridor that is more vibrant and attractive to shoppers and businesses alike."
Eligible expenses include removal of modern, inappropriate materials, brick cleaning, window replacement, lighting and sign repair of replacement which is part of the overall design improvements.
All applicants must be current on property taxes and other taxes, licenses and fees paid to the city. The property must be code compliant. The proposed improvements must meet design standards and receive approval from the Hamilton Façade Self Forgiving Loan Application Committee. Evaluation criteria can also include impact to the targeted area, number of low and moderate income jobs to be created or retained and the owner's investment in the project. A project scope that includes interior improvements will strengthen the application scoring and evaluation.
More information about the program and an application can be obtained by contacting City of Allentown Business Development Liaison Duane Tolson at 610-437-5964.
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