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Bend advisory board weighs narrower façade grants, explores revolving loan fund for core-area investment
Summary
Staff proposed refocusing a core-area business assistance program to exterior façade and frontage improvements with a $100,000 grant pool and a 50% match up to $10,000 per project; CAB also recommended staff research a revolving loan fund as gap financing for larger projects.
Jonathan Taylor, urban renewal project manager for the City of Bend, presented proposed reforms to the core-area business assistance program and asked CAB whether staff should pursue a revolving loan fund to fill financing gaps for development in the core area.
Taylor said staff's preliminary proposal would reformat the existing program to fund only exterior façade and frontage improvements, eliminate interior and non-primary-frontage projects, and limit the urban-renewal grant to a 50% match up to $10,000 (meaning a maximum project cost of around $20,000). "The proposed purpose is we need to begin establishing the program criteria and parameters for the administration of this beautification grant program and…
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