Resources
An incentive for Downtown property owners to improve the facades of buildings in an area within the Downtown Core. Eligible properties and their owners will be considered for reimbursement of up to 50 percent (not to exceed $5,000) of the cost of materials and professional contracted labor for completed renovations. For multiple-faced buildings an additional 25 percent (not to exceed $2,500) may be awarded. Businesses must be a conforming use in the zoning district. Grants will be evaluated and awarded on a monthly basis.
A financial opportunity for small business owners, property owners or investors to purchase or renovate a downtown property or to purchase equipment for the direct purpose of business creation, expansion or retention. A low-interest loan of up to $25,000 may be applied toward the down payment or closing costs for any existing or new business within the Downtown Johnson City Redevelopment District.
A direct loan of up to $300,000 to assist in the identification, purchase and installation of approved energy efficiency measures onto, or into,the existing Tennessee-located facilities, processes and/or operationsof approved applicants.
A source for financing the gap between the project costs and the amount a bank is willing to lend a person. Federal Historic Preservation incentives are available for buildings that are National Historic Landmarks, that are listed in the National Register, and that contribute to National Register Historic Districts and certain local historic districts. Properties must be income-producing and must be rehabilitated according to standards set by the Secretary of the Interior.
A key source of financing for viable small businesses that have real potential but cannot qualify for loans from traditional sources.
TAX INCREMENT FINANCING
Tax Increment Financing uses natural property tax growth and improved property values to pay for public projects within that same area.
SPOTLIGHT ON... JOHNSON CITY STATE OF FRANKLIN CORRIDOR
MARKET OPPORTUNITIES ASSESSMENT COMPLETED BY REAL ESTATE RESEARCH CONSULTANTS