The Commercial Retention & Redevelopment Program (CRR) is a City initiative offered by the Office of Business Opportunities (OBO). CRR offers forgivable loans to small businesses to make exterior and interior improvements to their buildings and commercial premise.
The program has two components:
1) The Façade Improvement portion of the program is for exterior improvements only, while;
2) The Commercial Loan portion is for INTERIOR and limited EXTERIOR improvements.
Candidates must apply for a Façade Project in order to be eligible to apply for the Commercial Loan Project. Façade Projects are funded by utilizing a forgivable, matching loan – City pays 80% and Applicant pays 20% of the total renovation project cost. Commercial Loan Projects are funded by utilizing a 100% forgivable loan. The CRR Façade projects have a maximum allowable amount, paid by the City/per project, of up to $15,000 and CRR Commercial Loan project’s maximum is up to $10,000. Full program details and Step-by-Step Guidelines will be presented at your Orientation Session.
Please note that there are two orientation time slot sessions available.
We look forward to seeing you on February 12th!