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EDC flags state program offering 0% loans for apartment improvements above downtown retail
Summary
The EDC briefed the committee about a state program that can provide 0% loans to improve apartments above retail, but said some municipal prerequisites may be needed for projects to qualify.
The Sawyer County EDC representative told the committee that there is a state program offering 0% loans to help improve apartments above retail in downtown areas, and that local jurisdictions may need to take specific actions to make properties eligible.
"There is a program out there at the state level where people can get, basically, right now at least, 0% loans to help improve apartments above retail businesses like we have downtown," the EDC representative said, and added staff are checking municipal requirements and reaching out to building owners to raise awareness.
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