Facade Grant Program
Funding Opportunities will be announced
Escanaba DDA Façade Program Funding Examples
Basic Façade Restoration Program
Basic Program ($10,000 Max)
Example #1
Total Project Cost= $9,873.00
DDA Cost= $9,873.00 X 80% = $7,898.40
(This is under the $10,000 maximum)
Owner Cost= $9,873.00 - $7,898.40= $1,974.60
(to be paid at closing and escrowed with DDA funds)
Pay Back Breakdown
50% forgiven after 5 years = $3,949.20
50% deferred @ 0% interest = $3,949.20*
(If repaid between the 5th and 6th year a 10% discount on the outstanding balance ($394.92) will be given to the borrower)
Signature Building Façade Restoration Program
Signature Building ($20,000 Max)
Example #1
Total Project Cost= $36,000.00
DDA Cost= $36,000.00 X 80% = $28,800.00
($20,000.00 DDA and $8,800 would be paid by owner - $20,000.00 maximum limit)
Owner Cost= $36,000.00 - $20,000.00= $16,000.00
(($8,800 + $7,200 balance = $16,000) to be paid at closing and escrowed with DDA funds)
Pay Back Breakdown
50% forgiven after 5 years = $10,000.00
50% deferred @ 0% interest = $10,000.00*
(If repaid between the 5th and 6th year a 10% discount on the outstanding balance ($1,000.00) will be given to the borrower)
2006/2007 Receipants
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2007/2008 Receipants
>> view pdf
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