Loan
programs also are available such as the Downtown Development
Revolving Loan Fund (DD RLF). The purpose of the DD RLF is
to assist cities and counties in implementing quality downtown
development projects. Eligible applicants are municipalities
with populations of 50,000 or less or counties proposing projects
in municipalities with populations of 50,000 or less. The
Georgia Department of Community Affairs (DCA) administers
the DD RLF and makes loans to eligible applicants with a $250,000
loan limit per project.
Another loan program is the Revolving Loan Fund. Applications
are evaluated based on leadership, accountability, long-term
sustainability, and potential for private investment. Projects
should encourage spin-off development, add jobs, promote downtown
housing, or add to the cultural enrichment of the community.
Eligible projects include building rehabilitation and historic
downtown city halls and courthouses. The loan programs are
not automatic, you must apply for them. |