Pawtucket Façade Improvement Program
The City of Pawtucket's new Facade Improvement Program offers small grants and grant loan combinations for larger projects to include replacement or installation of new awnings, doors, landscape, lighting, paving, siding, or windows; decorative material; code-compliance; and public-facing street or sidewalk improvements. such as bicycle hitches, interactive elements, planters, and seating. The program will offer small grants and loan combinations for larger projects. For small grants, applicants may request up to $2,000 for materials for small improvements. For larger projects, the City will offer a loan for half of the total project costs up to $15,000 and a grant through CDBG funds up to $30,000. The loan is structured to be paid within five years. For more details, contact Herb Weiss, Economic & Cultural Affairs Officer at email@example.com. Or call 401 728-0500, Ext. 437.
The City of Pawtucket works to assist businesses in ways consistent with its strategic plan. The City has an economic development office with a customer-friendly approach to troubleshooting zoning, site selection and various business growth issues.
Commercial Ventures: Provide matching loans to retail and service-sector borrowers, including start-ups. Eligible uses of funds include inventory and lease-hold improvements (term not to exceed 3 years, maximum loan up to $10,000).
Equipment Loans: Providing matching loans to industrial borrowers working to purchase equipment or upgrade existing equipment. Borrower is allowed to borrow up to 90% of value of equipment (not to exceed 5 years and $50,000).
Real Estate Loans: To enable industrial and commercial borrowers to acquire and rehabilitate real estate. Borrower is allowed to borrow up to 90% of the value of the real estate (not to exceed 10 years and $100,000).
Working Capital Loans: Provide working capital for inventory materials, marketing and related expenses to industrial and commercial borrowers (not to exceed 3 years and $50,000). Relocation loan-related expenses for businesses moving into the city are included in this program.
Restaurant Loans: Providing incentive funding for the improvement and/or expansion of restaurants located in the City’s 307 acre Arts & Entertainment District or those interested in relocating to this area. Borrower is allowed to borrow up to $50,000. The terms of the loans are determined by use of funds: Working Capitol (3 years); Real Estate (10 years); Equipment (5 years).
Fire Safety Loans: Providing building owners and long-term lessees with funding to upgrade existing commercial properties to meet Rhode Island’s Fire Safety Code.
Other additional information on available properties in Pawtucket - https://www.opportunityspace.org/
Jeanne Boyle, Economic Development Director, 401-728-0500 ext. 432
Herb Weiss, 401-728-0500 ext. 437
Economic Development Information
City expected to save tens of millions of dollars over the next 25 yearsPAWTUCKET – Under Rhode Island’s Renewable Net Metering Credit program, the City of Pawtucket has awarded a contract to... Read More >
- Mayor Donald R. Grebien