MEDC announces façade renovation grant, loan program

McCOOK, Nebraska -- McCook Economic Development Corporation announced today that a new program has launched that will provide financial incentives for improving the facades of business in McCook Commercial areas. Funded from the Economic Development portion of the Local Option Sales Tax, this program will provide grants of up to $5,000 with a one to one match plus additional zero interest loans up to $10,000 to local businesses or building owners to improve the looks and structural soundness of their building fronts. Although the program is available to any business in areas zoned Highway Commercial, Business Commercial or Central Business District, preference will be given to the downtown area and the utilization of local contractors.

MEDC Executive Director Rex Nelson said that "Façade renovation programs are a proven way to help keep a business district looking sharp. It helps stimulate renovations and upgrades and attracts private investment. This makes the retail districts more attractive to shoppers and tourists which in turn supports the local economy and benefits residents and taxpayers." Of particular interest is attracting investment to the downtown areas, as these areas generally are more difficult to keep occupied and well maintained. "We have an attractive downtown, but it could still be better," said Nelson.

"We must continue to encourage investments that will offset the effects of age on our stately old buildings. Our hope is that McCook would increasingly be considered a destination shopping location that competes favorably for those folks around the fringes of our trade area."

Nelson noted that the launch of this new program on the heels of a downtown survey of just two weeks ago is actually coincidence as this program has been over a year in the making and was ready to launch before the survey came out. He said that "The survey results did confirm strong demand for a tool such as this however, so we are glad to be able to offer it at this time."

A maximum funding level of $90,000 has been set for this calendar year by the MEDC Board of Directors. The Program Rules and Application and Design Guidelines are available on the MEDC website at mccookne.org under "News" and will also be on the "Local Financial Resources" page as soon as some repairs are made to the page. Those interested may also call the MEDC office at 345-1200 or stop by our office at the Keystone Business Center at 402 Norris Ave, Suite 301.