Matching grant, Development Financing Assistance – Bartlesville Redevelopment Trust Authority
Façade Improvement Grant (FIG) – Through input and referrals from the Main Street Bartlesville Design Committee and Economic Restructuring Committee, BRTA revamped the Façade Improvement Grant to be more effective. The grant pays for up to $10,000 in façade renovations – that is any improvement to any vertical façade of the building. Unlike the other financial incentives under BRTA, the grant is not dependent upon an increase in property value. It was instead created as a carrot to get projects moving and entice retail. The premise is that both property owners and tenants have expenses associated with improvements that must be incurred to be an effective retail space. Anytime assistance can be provided to the tenant or property owner to prepare for the optimal retail sales environment the chances are better for success. The Façade Improvement Grant is a one to one match of up to $10,000. The Grant must be used on the exterior, but the match can be either exterior or interior improvements. Again, the idea is to be sure the exterior quality matches the interior. The Grant has been responsible for most of the improvements downtown and has usually generated 3-5x the private dollar investment. Another quality statistic is that with every grant given, the location has been leased.
Development Financing Assistance (DFA) – Up to 15% (normally 10-12%) of the total project cost of the renovation can be covered by the DFA. BRTA money cannot be used for furniture, fixtures, appliances, equipment or anything that is not permanent to the structure. Improvement cost also cannot include the same items in the calculation of the incentive. However, we can include the cost of the building, if being purchased as a part of the project, in the total calculation.
The DFA and FIG can be used together as long as at least $50,000 of qualified costs are incurred.
Tax abatement, demolition assistance – City of Bartlesville
Economic development incentives – Bartlesville Development Authority
Quality jobs program – OKDOC
Small Deals Fund – NTHP
State & Federal Historic Tax Credits
Energy Efficiency Tax Credits