Downtown Special Services District Preliminary Design Assistance Program
Program Purpose
This program is intended to provide some level of cost clarity to Downtown property owners or potential owners as a first step in making code–related building improvements. The program provided assistance for owners or potential owners of downtown buildings interested in making significant improvements to accommodate new uses. Tenants and potential tenants are also eligible for assistance with the support of an owner or potential owner.
Eligible Assistance
The Downtown Special Services District (DMSSD) provides one-time mini grants to provide high-level code analysis to address code-related structural or mechanical issues. Grants of between $1,000 and $5,000 can be awarded to current/potential owners or tenants with a viable reuse concept, or used by the DMSSD itself for priority buildings. The DMSSD has set aside $20,000 of its own funds from which the first set of grants are to be awarded. Once the code analysis is complete, the DMSSD will own the information and keep a copy of the resulting work on file. Owners, potential owners and their representatives would have access to this information.
Process
Owners/potential owners apply for a mini-grant to the Downtown Economic Development Committee (EDC) through the Town’s Planning and Economic Development Department. The Downtown EDC then makes a recommendation to the Downtown Manchester Special Services District Board of Commissioners, which acts on the application. If approved, the DMSSD pays for the code analysis directly upon completion.
Application
Questions
Questions should be directed to Gary Anderson, Director of Planning and Economic Development, Town of Manchester ganderson@manchesterct.gov 860 647-3043
Other programs
Rebate of Tipping Fees Program
Property Tax Incentives for Real Property Improvements
DECD Small Business Express Program
Opportunity Zone: a new federal program providing capital gains related benefits for investors in low and moderate income areas. Additional information on this new program will be posted as it becomes available.
Manchester Downtown Investment Fund Loan Program
Program Purpose
A 0% interest loan program designed to spur reinvestment in Downtown Manchester is now available through the Town. The Manchester Downtown Investment Fund is intended for current or potential Downtown property owners with rehabilitation plans that will have a transformative impact on both the particular building and on Downtown as a whole. The program is meant to address financing gaps that otherwise would hinder reinvestment in older, multistory buildings.
Eligible Assistance
Loan awards of between $25,000 and $250,000 are available for projects that will address current building, fire and health code issues, modernizing an older building in order to accommodate new uses. Loans are to be repaid over a 10 year period and a portion of the loan can be transferred to a grant in some circumstances.
Duration of Program
The loan pool will be available in 2019 and 2020 only or until the $750,000 designated for the program is exhausted. Potential applicants are encouraged to apply as soon as possible in order to qualify.
Downtown 2020 Website
Additional Information
More information is available at www.Downtown2020.com or by contacting Gary Anderson, Director of Planning and Economic Development at (860) 647-3044 or ganderson@manchesterct.gov
Contact Information
Downtown Manchester Special Services District
983 Main Street, Suite 10 Manchester, CT 06040
Phone: 860 645-2101
dmssd@manchesterct.gov