Department

of Community Affairs (DCA) Downtown Development Revolving Loan Fund

The purpose of the Downtown Development Revolving Loan Fund (DDRLF) is to assist cities, counties, and development authorities in their efforts to revitalize and enhance downtown areas by providing belowmarket rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods where DDRLF will spur commercial redevelopment.

The maximum loan is $250,000 per project. Applicants must demonstrate that they have a viable downtown development project and clearly identify the proposed uses of the loan proceeds. Each application must also undergo credit underwriting. Applications will be accepted throughout the year and as loan funds are available.

Georgia Cities Foundation Revolving Loan Fund

The Georgia Cities Foundation assists cities in their efforts to revitalize and enhance downtown areas by serving as a partner and facilitator in funding capital projects through a revolving loan fund. These below market rate loans can be used to finance eligible projects include real estate acquisition, building rehabilitation, new construction, and greenspace/park development. These loan funds can be coupled with the DDRLF.

As of 2022, the maximum loan is $250,000 per project. Applicants must demonstrate that they have a viable downtown development project and clearly identify the proposed uses of the loan proceeds.

Applications are evaluated based on leadership, accountability, longterm sustainability, and potential for private investment. Projects should encourage spin-off development, add jobs, promote downtown housing, or add to the cultural enrichment of the community. Each application must also undergo credit underwriting. Applications will be accepted throughout the year and as loan funds are available.

Georgia Cities Foundation Green Communities Fund

The Green Communities Fund is a rebate program offered by the Georgia Cities Foundation. The Green Communities Fund provides a 25% rebate for pre-approved, eligible energy efficient improvements to downtown commercial, mixed-use, and multi-family buildings within the state of Georgia. Loans are available for existing as well as new construction. This program requires an initial energy audit to identify eligible improvements. Eligible improvements must either result in a 20% reduction in building energy use or have a 10-year return on investment. Maximum loan amounts vary based upon project costs.

Local Incentives Downtown Façade Grant Program

The Homerville Main Street Program and the Downtown Development Authority developed a Façade Improvement Program to encourage exterior improvements to properties and to promote economic development in the historic downtown. This program is intended to preserve and restore historic properties and details that reflect Downtown Homerville’s historic character.

The program encourages reinvestment by matching private investment 50-50 with a maximum match amount of $5,000. For example, if a rehabilitation project costs more than $10,000, the maximum amount the applicant can receive is $5,000. If the project costs less than the $10,000, the maximum amount the applicant can receive is half of the total cost of the investment.

Applications for the façade improvement program will be reviewed and considered based on the funds available, the order in which applications are received, and the quality of the proposed design. Applications will be reviewed by the Downtown Development Authority of Homerville at regular meetings with the following criteria taken into consideration:

• The historic, cultural, and/or architectural significance of the building

• The potential impact of the project on the downtown in general and on the building in particular

• Location of the building in visually prominent areas and/or economically blighted areas

• The overall cost of the project

• The quality of the proposal and adherence to procedure

Program Requirements:

• Applicable properties must be commercial, income-producing, and located in the Central Business District (See map on page 6).

• Applicants must be the building owner and/or tenant and in good standing with the City of Homerville. Tenants must submit a copy of the signed lease agreement with this application along with a letter of support from the property owner.

• Applications are limited to one façade during any 12-month period.

• Repeated applications for the same item or project within a five-year period will not be considered.

• Work must begin within 45 days of approval and be completed within 180 days of commencement. Funds will be released following the completion of the project, along with the presentation of paid invoices, and a final review of the project by the Homerville Downtown Development Authority.

• Applicants may only use funds for the approved purpose and as specified in the application. Any changes from the original application must be submitted in writing prior to the work being completed for the application to remain valid.

• Façade improvement funds will not be awarded in lieu of routine maintenance or for repairs that may be associated with an insurance claim.

• Any improvements must conform to the Homerville Downtown Development Authority’s chosen guidelines.

• Incomplete applications will not be considered.

• Failure to follow these guidelines as determined by the Homerville Main Street Manager and the Downtown Development Authority may result in failure to release funds.

• Before and after photos must be submitted and date stamped.

Eligible Actions:

• P ainting, cleaning, masonry repair, and/or replacement of historicallyappropriate windows and doors including storefront on all exterior façades.

• Restoration, repair, or removal of old signs or the design, production, and installation of new signs that are incompliance with the City of Homerville’s Sign Ordinance. Non-compliant signage 50 years or older and/or signage with cultural significance may be given special consideration.

• Pu rchase, installation, or restoration of exterior lighting fixtures for design enhancements and/or security.

• T he purchase and installation of new awnings and/or frames.

Ineligible Actions:

• Demolition of historically, culturally, or architecturally significant buildings or features.

• Sandblasting of brick or masonry surfaces.

• The addition of inappropriate residential details added to commercial buildings, including shutters, plastic windows, and solid wooden doors.

• Improvements made prior to application approval.