FUNDING REVITALIZATION

MSRP Grant

The Indiana OCRA Main Street Revitalization (MSRP) Grant program accepts applications from communities during once each year for a competitive round of funding. The maximum award equals $400,000 and requires a 20% community match. For 2016, a Letter of Intent, the initial application step, is due August 19 with October 14 the final application due date. More information about the program may be found at http://www.in.gov/ocra/2583.htm.

Action Steps

1. Consult with the OCRA Community Liaison for the Northwest District Gerry White 317.694.8372 gewhite@ocra.IN.gov.

2. Secure the services of a qualified grant writer to prepare the application, and an architect to complete the building analysis and cost sections.

3. Begin discussion with building owners in the district to evaluate properties for inclusion in the program.

Additional Information

Local support during the application process will only make for a stronger case. Leadership by organizations such as the City and Frankfort Main Street will help to recruit community participation, generate enthusiasm and support for the project, and educate building owners on the opportunities and responsibilities of participation.

Community leaders will also need to seek building owner participation. Building owners with a willingness to contribute matching dollars for approximately of 20-25% of the total renovation cost build the strength of the grant application. Key buildings for façade renovation typically include those that have been well maintained, are generally structurally sound (while the unknowns always exist), and will serve as a catalyst for future improvements.

Reviewing the experiences of other towns that have received OCRA grants may also be helpful during the Pre-Grand Award phase. City leaders or Frankfort Main Street may invite previous façade grant award recipients and their architect to a community discussion about their experience and success with the façade grant program. It is also helpful to visit other communities to see the results of the facade program.

Community support prior to and during construction comes in several ways. Some of the most important include to accentuating the positive changes and keeping the public informed about the process. Buildings Owners who allow selective demolition early in the design process streamline construction by uncovering underlying conditions and minimizing the potential for unknowns. When creating the final project budget, creating a “set aside fund” (a City or Building Owner’s contingency) provides a financial cushion for unknown conditions which result in cost increases (a recommended amount of 15% of renovation cost).