Revitalizing a key business district …
The City of Columbus has selected the Highland West section of West Broad Street as one of six Neighborhood Commercial Revitalization districts eligible for economic incentives. The incentives for business and property owners include low-interest loans and matching grants for exterior improvements. The district stretches from Highland Avenue to Hague Avenue. For information about NCR incentives, as well as assistance available to property owners anywhere in the Hilltop, visit the city’s website or contact Betsy Meleski, program coordinator, at 614-645-8644.
Investment Funds for NCR Districts:
It is the goal of the City’s NCR (Neighborhood Commercial Revitalization) Program to stimulate business development along designated NCR areas. The City has allocated funds through the Columbus Community Development Block Grant Program (CDBG) to establish the NCR Investment Fund, a financing tool to encourage reinvestment.
Individuals, investors, developers, and corporations interested in acquiring and renovating property within the Hilltop NCR district is eligible to receive the loan. Proposals are reviewed on the basis of: private investment leverage, job generation, tax revenue growth, impact on the NCR corridor, compliance with design and signage standards, the feasibility or project financing, quality of collateral, and the availability of funds. A Loan Officer in the Economic Development Division works with each applicant to create a loan package that must be presented to and approved by an external loan committee before funds can be committed to a project.
The Neighborhood Commercial Revitalization program is a vital component of the Department of Development’s continued efforts to stimulate reinvestment in the declining or potentially declining areas of the City of Columbus. Working together, the City, merchants, and lenders are achieving mutually beneficial objectives.
How To Apply:
The Division of Economic Development is happy to assist you in all phases of the application process. Please contact:
Division of Economic Development
109 N. Front St., Columbus, OH 43215
tel. (614) 645-8616