Commercial
SEMMCHRA has funds available through the Small Cities Development Program (SCDP) to assist commercial property owners with building rehab projects. Funds are available in the cities of Kenyon and Lake City.
The funds can be used to improve the front façade, increase energy efficiency, improve accessibility, and address code-related issues.
The SCDP commercial loan program is a great way to get improvements done to a property without having to spend a lot out of pocket, while increasing the buildings value!
| Kenyon Program Guidelines | |
|---|---|
| Eligible Properties | Businesses located along 2nd Street between Spring Street and Red Wing Avenue |
| Project Maximum | $40,000 (in SCDP Funds) |
| Funding Breakdown: | 60% 5-Year Deferred, Forgivable Loan |
| 20% 3%, 5-Year SCDP Low-Interest Loan | |
| 20% Owner’s Match (Owner’s funds or a low-interest loan-3%, 5 year) |
| Lake City Program Guidelines | |
|---|---|
| Eligible Properties | Businesses located south of East Chestnut Street, west of South Franklin Street, north of Marion Street, & east of High Street |
| Project Maximum | $40,000 (in SCDP Funds) |
| Funding Breakdown: | 65% 5-Year SCDP Deferred, Forgivable Loan |
| 15% 3%, 5-Year SCDP Low-Interest Loan | |
| 20% Owner’s Match (Owner’s Resources or City’s Revolving Loan Fund) |
For more information on available renovation programs contact:
Tressa Sauke
Special Projects Coordinator
SEMMCHRA
134 East Second Street
Wabasha, MN 55981
(651) 565-3836