Low Interest Loans Available to Rehab Commercial Buildings
in Port Townsend's Commercial Historic Districts
PORT TOWNSEND MAIN STREET FALL HUD LOAN
APPLICATION DEADLINE OCTOBER 30, 2015
The Port Townsend Main Street Fall HUD Loan application deadline is
Friday, October 30th, 2015 at 5 pm. These funds can help property owners accomplish historic preservation goals and safety improvements in their commercial buildings located in Port Townsend's Downtown and Uptown Commercial Historic Districts.
With these funds, building owners have repaired roofs, fixed staircases, re-pointed brick facades, installed windows and improved the safety of their buildings. There is approximately $124,500 in the fund at this time. It's easy to apply. DOWNLOAD THE APPLICATION HERE.
PLEASE NOTE: No retroactive proposals, please.
At the request of the Main Street HUD Loan Committee, in January of 2015, The City of Port Townsend approved property owners submitting invoices, rather than paid bills for work related to HUD loans.
Projects funded in the past include The Terry Building, The Gallus Rutz Building, Aldrich's Grocery, US Bank Building, the C.F. Clapp Building, the Sorge Building, the Mary Webster Building, the Miller Burkett Building, the James and Hastings Building, the Bartlett Building, the Rose Theatre Building, the Alaska Power Building, The Green Eyeshade Building, The Odd Fellows Building, The Palace Hotel, The Captain Tibbals Building, The Hastings Building, The Kuhn Building, the Odd Fellows Building, The Port Townsend Athletic Club Building and The Abracadabra Building.
Applicants fill out a brief application, include a photo of the building, total budget, timeline for work, two estimates and funding amount requested. Forms are also available at the Main Street office in the Mount Baker Block Building, 211 Taylor Street, 2nd floor, Suite #3. The HUD Loan application deadline is 5 pm, October 30, 2015. Completed applications must be returned to the Port Townsend Main Street Program office at 211 Taylor Street, #3, Port Townsend WA 98368 by the deadline.
Loan amounts may be between $1,000 to $40,000 with a ten-year term. Interest charges are set at 5%, but with early repayment, your interest could be as low as 0%. The Port Townsend Main Street Program has coordinated the HUD Loan Committee since 1986. 2015 marks the 30th Anniversary of the Port Townsend Main Street Program. Contact the office at (360)385-7911 or email us here for more information. www.ptmainstreet.org
