Downtown Waupun Targeted Reinvestment Grant

***This grant opportunity is not available in 2022***

Purpose:

The Downtown Targeted Reinvestment Grant is designed to encourage the redevelopment of older commercial buildings as vibrant, retail commercial spaces.  The City recognizes that many buildings may be non-compliant with modern building codes and that the cost of these improvements often fall to new entrepreneurs looking to establish small businesses.

The program will make available a redevelopment grant to commercial building owners and developers.  The incentive will offer reimbursable grant funds up to $10 per square foot with a maximum award of $20,000.  The grant may not exceed 50% of the total project costs.  The grant may be paired with the City’s Downtown Revitalization Grant Program with restrictions, i.e., the same project expenditures are not allowable under both grant applications.  For example, a building owner may apply to the Downtown Revitalization Grant Program for exterior façade improvements but those same expenses are not eligible in the Downtown Targeted Reinvestment Grant.  To apply for the Downtown Targeted Reinvest

Funding:

The Downtown Targeted Reinvestment Grant Program is available to property owners within the City of Waupun’s Tax Increment District 3 (TID 3).  As a matching grant program, the CDA will reimburse the grantee up to $10/square foot with a maximum award of $20,000 per parcel address.  The grant may not exceed 50% of the total project cost.  The grant may be paired with the City’s Downtown Revitalization Grant Program, but there are restrictions on using these programs in combination as outlined above.

A property owner proposing to do additional improvements to a commercial parcel in which past improvements were funded by the Downtown Revitalization Grant may apply for the Downtown Targeted Reinvestment Grant.  However, this Downtown Targeted Reinvestment Grant limits grants to $20,000 per parcel address per five-year period.  Subsequent requests within the five-year period will require direct approval by a majority vote of the CDA members.  In considering this, the CDA shall take into consideration one or more of the following factors: change in ownership, change in business concept, and the ability to attract new businesses.  The Downtown Targeted Reinvestment Grant Program may be used in conjunction with the Community Development Authority’s (CDA) Downtown Revitalization Grant.

Eligibility Requirements:

The Downtown Targeted Reinvestment Grant Program is available to property owners within the City of Waupun’s Tax Increment District 3 (TID 3).  As a matching grant program, the CDA will reimburse the grantee up to $10/square foot with a maximum award of $20,000 per parcel address.  The grant may not exceed 50% of the total project cost.  The grant may be paired with the City’s Downtown Revitalization Grant Program, but there are restrictions on using these programs in combination as outlined above.

A property owner proposing to do additional improvements to a commercial parcel in which past improvements were funded by the Downtown Revitalization Grant may apply for the Downtown Targeted Reinvestment Grant.  However, this Downtown Targeted Reinvestment Grant limits grants to $20,000 per parcel address per five-year period.  Subsequent requests within the five-year period will require direct approval by a majority vote of the CDA members.  In considering this, the CDA shall take into consideration one or more of the following factors: change in ownership, change in business concept, and the ability to attract new businesses.  The Downtown Targeted Reinvestment Grant Program may be used in conjunction with the Community Development Authority’s (CDA) Downtown Revitalization Grant.

Eligibility Requirements:

• All work being done must be in a commercially-zoned building on property located within the CDA boundaries.
• The program is available to property owners for work performed on the interior spaces.
• Grant funds cannot be used to correct outstanding code violations, for property damage by collision, acts of nature, or occurrences covered by insurance.
• Only work done after approval by the CDA will be eligible for reimbursement.
• All work must comply with the City of Waupun Building Inspector code requirements and all relevant permits and inspections are required.
• Funding for retail and restaurant commercial spaces is preferred over office uses.

Ineligible Properties:

• Improvements for tax-exempt properties.
• Work begun or materials purchased prior to grant approval.
• Properties that have outstanding taxes, fees, penalties, or delinquencies.

Eligible Improvements:

Eligible improvements include but are not limited to:

• Interior plumbing, electrical or HVAC improvements that result in compliance with current building code.
• Repairing or replacing drywall, plaster walls, floors, or ceilings.
• Repairing or construction of required bathrooms.
• Repairs or construction required under the American with Disabilities Act (ADA).

Ineligible Improvements:

Ineligible costs and improvements include but are not limited to:

• Personal property.
• Security systems.
• Kitchen equipment.
• Windows, doors, or stairways.
• Signage, lighting, paint or wallpaper.
• Any improvement to correct outstanding code violations.
• Property damage due to collision, acts of nature, or occurrences covered by insurance.
• Any work started prior to approval.
• Any exterior improvements, unless approved by the CDA.
• Outstanding property taxes.
• Payments of fines, forfeitures, or inspection fees.

Grant funding will not reimburse for labor if it is self-contracted.  Material costs and labor costs of employees are eligible, if the number of hours, rates of pay, and the employee names are provided.

Application Submittal and Review Process:

• Applications are distributed and collected by the CDA no later than March 30, 2021.  After the first round of funding has been awarded, the submission deadline is the 1st Tuesday of the month until the funds are expended.
• Prior to submission, applicants must receive project approval by the Building Inspector.
• Prior to submission, applicants must obtain Cost Estimates*, Property Photos, a Project Plan drawn to ¼” scale, and Paint/Material Samples.  *Program funds come from local tax revenues to support local projects.  Although not required, it is appreciated if applicants consider obtaining bids from local contractors in preparing their application.
• Completed applications are reviewed on an as needed basis by the CDA, which has discretion over the program.  Applicants must attend the scheduled CDA meeting.
• Notification of approval/denial will be provided to the applicant by the CDA within 7 days of the scheduled CDA meeting.  Note that the project must be approved prior to any of the work taking place.
• Changes to an approved project must be reviewed and approved by the City Administrator.  Additional approval by the CDA may be deemed necessary.   Failure to obtain approval may result in reduction of award amount or grant forfeiture.

Project Completion and Reimbursement:

• Upon project completion, grantee must submit copies of paid invoices to CDA for reimbursement. 
• Only approved eligible expenses will be considered for reimbursement.
• The Grant award amount is not a guaranteed payment amount.  Final grant payout is based on project costs reflected in actual paid invoices submitted for reimbursement. 
• Payout will not exceed the maximum grant amount approved by the CDA.  If total project costs are less than estimated, the grant reimbursement will be pro-rated in accordance with grant guidelines.
• Projects must be completed within 6 months of grant approval unless otherwise approved by the CDA. 
• Projects not completed by the deadline will be considered closed due to incompletion and grant will be forfeited.
• Once grant payout is made, the application will be considered closed and no additional expenses will be allowable.