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The City
of Ottumwa and participating banks are joining
in forces by offering a loan program to those interested
in rehabilitation buildings in Ottumwa's Central
Business District.
This program
will hav the banks offer affordable financing as
an incentive to those eligible applicants within
the designated area defined in the City Resolution
and the Downtown Development Guide.
Financial Incentive:
Maximum $50,000
loan over a five (5) year term at 0% interest for
the rehabilitation of qualifying buildings.
Use of Funds:
Structural
repair and improvement for the interior or facades
of existing buildings.
APPLICATION
PROCESS
- Receive and
return application from the community serviced
department
- Facade and loan committee
reviews application
- Loan approval by participating
banks
- Closing on loan
To fill out an application call
City of Ottumwa, Community Services Department,
City Hall - Room 201 at 515-683-0606
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