The heart and soul of Grants Pass is our downtown, and our historic buildings are long-term assets. The city's Building Renovation Loan Fund can provide financing for the restoration and/or renovation of buildings within the Central Business District and of buildings along the major thoroughfares of Grants Pass.
Those areas include the Downtown Business District ("A" Street to the River from 4th Street to 8th Street), from "A" Street to I-5 along 6th and 7th Streets, "E" and "F" Streets from 8th Street to the Parkway, the Parkway from I-5 to Redwood Highway to the City of Grants Pass Urban Growth Boundary, from the River to the Urban Growth Boundary along both Rogue River Highway and Williams Highway.
This local loan program is used to encourage property, building, and business owners to restore building exterior facades and renovate upper floor areas for commercial and residential uses.
Eligible projects include:
Masonry repair and cleaning
Painting and cleaning
Professional design services (a special 1-time grant of up to $5,000 may be made to assist with project design costs)
Quality exterior improvements intended to restore facades and exteriors
Renovation of upper floor area for housing or commercial uses
Repair / replacement of attached building details and fixtures
Sign removal, repair, or replacement
Loan terms and interest rates are negotiable between the applicant and the city. The repayment term cannot exceed 10 years, and the interest rate cannot be less than 5% per year. The maximum allowable loan to any applicant is 1/2 of the project cost, up to $50,000.
All loans are subject to the review of and approval by a loan review committee and the Grants Pass City Council.