Program A - Business
Enhancement Fund
Tax Increment Financing (TIF) funds have been committed for the following activities within the designated area in downtown Parkersburg:
- Purchasing of a building
- Construction of a new building
- Remodeling
- Leasehold Improvements
Program B - Facade Loan
Program
Designed to assist businesses in restoring and preserving building facades in a manner consistent with the character of the structure. Loans are available at 3% interest payable over the existing life of the TIF program. Costs considered under this program include, but are not limited to window update (not including curtains/blinds), overhangs or store front painting.
Program C - General
Rehabilitation
Combine efforts of community groups to develop an overall update of the downtown area to include, but not limited to street lights, paving and sidewalks. This will benefit all taxpayers by providing an enhanced downtown shopping area.
Application Process
- An application must be completed and approved BEFORE a project begins.
- Applications are available at the Parkersburg Economic Development (PED) office in City Hall.
- Applications must be received by the 21st of each month.
- The PED Board will review the application and make the final decision on the assistance at its next Board Meeting (held the 2nd Tuesday of each month)
- After approval by PED, the project can proceed.
- After the project is completed, a rebate will be provided from TIF Funds within 5 business days.
- Complete administration plan and rules available in the PED office.
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