More than 50 applications were submitted for local business improvements under Albion’s Downtown Revitalization (DTR) program last week.
The DTR Committee held a three-hour meeting to review the facade improvement applications Monday afternoon, May 14.
The applications represented more than $590,000 in total requested funds, and most applications requested the full maximum forgiveable loan of $15,000 per business structure.
Total grant funds are limited to $454,500, so the DTR Committee will need to prioritize the grant requests during the selection process.
“Obviously, not every applicant will get all that they applied for,” said Jan Merrill, community planner with Northeast Nebraska Economic Development District.
The projects will be prioritized based on criteria outlined in the application process, and the committee reserves the right to adjust funding levels.
Selection criteria include:
1. Higher ranking is given to projects requiring total funds in excess of $15,000, in which the applicant provides the balance of project cost.
2. Visual impact to the downtown district through signage, awnings and storefront restoration.
3. Building preservation.
4. Historic restoration.
DTR Committee reviewing over 50 downtown project apps
