The Los Banos Downtown Association’s Revitalization project is a multi-part project that combines the efforts of the association, property owners, business owners and the city of Los Banos. With the drive to revitalize two major projects were set forward by the Downtown Association the PBID (Property Business Improvement District) and The Façade Program.
Goals and Objectives of Program
Los Banos Downtown Association has established a Façade Improvement Program to strengthen the revitalization of Downtown Los Banos. The program offers funds to property/business owners to be matched by an equal or greater investment of private funds. For the purpose being of restoring/modernize commercial storefronts, replacing deteriorated, commercial signs, painting, façade repair, and awnings. The Façade Improvement Program Committee will evaluate all applications to determine eligibility based on set criteria.
The Façade Improvement Program will provide reimbursements for 50% of the cost of façade improvement up to a maximum grant amount of $50,000. The recipient’s private match must provide a minimum of 50% of the cost of façade improvements. In addition to the required private match, the recipient is responsible for all the project cost that exceeds $50,000.
Façade Matching Funds Maximum
A PBID is a special public/private benefit district to fund business-related improvements, maintenance, and activities through the levy of assessments upon the businesses or real property that receive benefits from those improvements even more important tools with which communities can combat blight. The district utilizes various economic environmental stargates to enhance downtown through new improvements, maintenance, and development.
Benefits of the PBID
Article Written By: Kristina Hacker