Loans, Incentives & Grants
Design changes that take place at commercial properties are a critical part of any successful revitalization strategy. This program is administered by the Design Committee of the DDA and will offer financial assistance to commercial property owners seeking to renovate or restore the exterior of their buildings.
Unless otherwise stated each year applications are due May 5th.
The DDA understands the importance of growth in business which is why we offer up to $10,000 in available funds to eligible applicats with low-fixed rates. Based on need, projects needing loans larger than $10,000 may also apply.
Contact the DDA for more information and application.
In addition to DDA programs, the DDA can assist you in accessing other incentives. West Shore Bank offers low interest fixed rate loans up to $25,000 for new and existing businesses. Venture North also offers low interest fixed rate loans for the Manistee Area. The Michigan Economic Development Corporation (MEDC) offers grants to redevelop downtowns, these programs typically require substantial rehabilitation to the building and the program will need to be facilitated by the DDA and local authorities. Federal Historic Tax Credits may also be available. This program encourages private sector investment in the rehabilitation and re-use of historic buildings. A 20% income tax credit is available for the rehabilitation of historic income-producing buildings that are determined by the Secretary of the Interior to be “certified historic structures.” The DDA can assist property owners looking to receive these credits.
Contact the DDA for more information: