City of Columbia’s Office of Business Opportunities to Announce Launch of Commercial Retention & Redevelopment Program

Contact:

Façade Improvement Program: Gerry Lynn Hall,803-545-3381 or glhall@columbiasc.net

Commercial Loans: Bret Whiting, 803.545.3952 or bawhiting@columbiasc.net

WHAT: Press Conference
WHO: Mayor Steve Benjamin, City Council members, City Officials and City staff
WHERE: Columbia Water, 4011 West Beltline Blvd., Columbia, SC
WHEN: Monday, February 26, 2018 at 10:30 a.m.

City of Columbia's, Office of Business Opportunities (OBO), announces it will reveal the Commercial Retention & Redevelopment Program (CRR) Monday, February 26, 2018, at 10:30 AM, at Columbia Water, 4011 West Beltline Blvd.

OBO will utilize their highly successful Façade Improvement Program for exterior building improvements and Commercial Loan programs for inventory, equipment, or physical property improvements as a redevelopment tool for the revitalization effort in the Eau Claire Redevelopment Area that includes the Booker Washington Heights Redevelopment Area of Farrow Road & West Beltline.

Façade Improvement Program: (FARROW ROAD (Colonial Drive – West Beltline) & WEST BELTLINE (Bailey St - Brookland Ave.)): The CRR is a two-year, forgivable loan opportunity with funding limits up to $15,000 for exterior commercial building improvements in this specific target area. 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. Forgivable grants are also available for improvements costing less than $2,000.

Forgivable Commercial loans (Farrow Road & West Beltline Target Areas same as Façade Improvement Program): Candidates applying for a façade improvement project are also eligible to apply for a forgivable commercial loan up to $10,000 for interior/ exterior improvements, or other general business needs.