Longmont has flood-relief grants for businesses
Last Updated: 16:44 October 3, 2013
The city's Business Recovery Grant is reimbursement funding that covers repairs to flood damage that are permanent improvements to the property like drywall, flooring and parking lots. The grant covers 25 percent of project cost up to $5,000. It does not cover inventory or equipment loss.
Longmont economic development manager Doug Bene said the grant is an offshoot of a business improvement grant the city already offered.
"We relaxed some of the normal requirements to make it more conducive for the businesses going through this to use it," said Bene, who said he began working on creating the grant the Monday after the flood.
There is $50,000 available for the grant program, money that was originally earmarked for other redevelopment activities as part of the city's economic vitality budget.
Bene said the city would be accepting applications through the end of the year, and he's received several already. Should qualified applications exceed the $50,000, Bene said the city would try to find additional funding.
"I'm committed to meeting the needs of all the applications," Bene said. "So if it goes over that we'll try to accommodate everyone who's eligible."
For information on applying for a grant, contact Bene at 303-651-8403, or apply online here.
The LDDA's flood relief grant is similar to the city's in that one category of it covers 25 percent of repair costs up to $5,000 for things like building façade damage, rental equipment for cleanup and damage to electrical systems. A second category covers 25 percent of costs up to $1,500 for flood-related repairs to parking lots.
The LDDA grant is available only to businesses within the LDDA area, roughly the area from First Avenue on the south to Longs Peak Avenue on the north, and Terry Street on the west to Kimbark Street (north of Third Avenue) and Martin Street (south of Third Avenue) on the east side.
LDDA's executive director Kimberlee McKee said the $20,000 available for the grant will come from the organization's tax-increment financing fund. In general, tax-increment financing allows property tax collected from businesses to be used for projects in a special district. McKee said LDDA staff members went around to businesses this week handing out applications. For more information on the LDDA, call 303-651-8484.
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