The Mt. Vernon Redevelopment Commission announces it has created the Mt Vernon Downtown Façade Grant Program for downtown business property owners. The Mt. Vernon Downtown Façade Grant Program is utilized as a tool to help revitalize local business and buildings in Mt. Vernon’s Downtown business district as part of the Downtown Mt. Vernon Redevelopment Plan. The creation of a more aesthetically-pleasing Downtown district is paramount to encouraging both residents of and visitors to Mt. Vernon to invest in the local economy and establishing a greater sense of community pride.
When The Landing development was proposed in 2013 the City of Mt. Vernon and the Mt. Vernon Redevelopment Commission established the Downtown Redevelopment Area as a TIF District to capture the increased property taxes. Under Indiana law, the captured increment which is result of increased assessed values due to improved properties is then eligible for use in the redevelopment area for improvements and other redevelopment projects.
The Redevelopment Commission is currently considering applications for qualifying projects which will result in a total amount of $20,000.00 being used by the Commission as matching funds. The Commission will reimburse and match the applicant’s spending up to the lesser of one-half of the applicants improvement costs or $5,000.00 of an accepted project.
Properties within the Downtown district are eligible to apply for a matching grant of 50% of their costs in façade improvement projects. The maximum amount of a grant is $5,000.00.
Applications for the grant program will be accepted from July 15, 2017 through August 31, 2017. Applications are available at City Hall, 512 Main Street, Mt. Vernon, Indiana.