STEUBEN COUNTY, N.Y. (WETM) – A new loan program has been created to help support the redevelopment of vacant and deteriorating buildings in downtown areas and community centers in Steuben County.
The new Downtown Redevelopment Loan Program will be administered by REDEC Relending Corporation in partnership with Steuben County and the Steuben County IDA to provide low-interest loans to rehabilitate local buildings. These loans will fund up to fifty percent of the total cost of a building rehabilitation project.
The loans that will be provided will range from amounts of $10,000 to $30,000. Funds will be made available to for-profit organizations that rehabilitate existing buildings in downtown and city center areas. These buildings must be redeveloped for commercial or mixed-use occupancy. Eligible projects will result in the receipt of a Certificate of Occupancy from local code enforcement officials.
If you are interested in receiving more information about eligibility or restrictions or would like to apply for the loan, contact REDEC at 607-962-3021 or email@example.com.