WHAT: Commercial Retention & Redevelopment Program Press Conference
WHO: Mayor Steve Benjamin, City Council members, City Officials and City staff
WHERE: Drew Wellness Center, 2101 Walker Solomon Way
WHEN: Monday, February 11, 2019 at 11:30 a.m.
City of Columbia’s Office of Business Opportunities (OBO) will announce program details and the new targeted areas for the Commercial Retention & Redevelopment Program (CRR) on Monday, February 11, 2019 at 11:30 am. at Drew Wellness Center, 2101 Walker Solomon Way.
The OBO’s CRR program combines our successful Facade Improvement (Exterior Building Improvements) and Commercial Loan programs (Physical Property/Premise Improvements - Interior or Exterior) as redevelopment and commercial retention tools to revitalize portions of the targeted areas of Harden Street, North Millwood/Millwood Avenue, Taylor Street, and Gervais Street. Some of the targeted areas are also located in the Neighborhood Revitalization Service Area and the King-Lyon Redevelopment Area.
CRR Program Details:
Target Areas: Portions of Harden St., N. Millwood/Millwood Ave., Taylor St., & Gervais St.
FAÇADE IMPROVEMENT PROJECTS: Two-year, forgivable loan opportunity with funding limits up to $15,000, for exterior commercial building improvements, in these specific target areas. The project cost is split so that the applicant pays ONLY 20%; the remaining 80% is paid by the City. Retail/Commercial property owners and/or their tenants are eligible to apply.
COMMERCIAL LOAN PROJECTS: Candidates approved for a Façade Project forgivable loan are also eligible to apply for a forgivable commercial loan up to $10,000 for interior/exterior improvements.