June 11, 2019 | National Main Street Center Selects City of Kingsville for Historic Commercial District Revolving Fund |
Photo credit: City of Kingsville
The City of Kingsville has been selected to participate in the Texas Historic Commercial District Revolving Fund, administered by the National Main Street Center (NMSC) and made possible by generous support from The 1772 Foundation, Inc
Over the next three years, this revolving fund will issue $70,000 in zero percent interest loans to three to four competitively selected Texas Main Street communities to support highly visible improvements to commercial buildings and storefronts.
NMSC launched this revolving fund in the fall of 2016
, in partnership with the Texas Historical Commission
’s Texas Main Street Program, to support exterior rehabilitation or improvement of existing commercial or mixed-use buildings within two Texas Main Street communities: San Augustine and Texarkana. Kingsville will be the third Texas community to participate.
“We have seen this program produce significant, positive changes in Main Street districts over the past three years, thanks to the great work of our Texas partners,” said Lindsey Wallace, Director of Strategic Projects and Design Services at the National Main Street Center. “We are excited to build on this momentum in Texas and thrilled to expand the fund with Kingsville as our new partner.”
Awardees receive loans at a zero percent interest rate, with a repayment period of three years. To qualify, business owners and/or tenants will submit their proposed rehabilitation projects for design review by the Texas Main Street Program and NMSC (conducted in accordance with local design guidelines), as well as a completed loan/grant application to NMSC. Eligible projects include signage, window repair, exterior feature repair, and masonry work.
To demonstrate the rehabilitations’ impact downtown, awardees are required to track and report simple metrics for the three-year loan period, including before and after photos, business foot traffic, and additional rehabilitation.
Applications for the fund will open June 15, 2019.#Blogs#Announcement