The Façade Improvement Project offers matching funds for façade improvement. Building and/or business owners can apply for up to 50 percent of the cost of their improvement project. In general, the maximum grant contribution by the GMA is $10,000. The minimum grant contribution is $1,000. However, the GMA may consider approval of a higher amount for large catalytic projects, projects that would contribute significant improvement to the physical appearance of the Golden Mile and would be expected to significantly increase business traffic to all businesses on the Golden Mile. Work completed prior to a letter of commitment is not eligible for funding.
The goal of the project is to encourage building renovation and improved economic vitality by providing funding to upgrade Golden Mile building facades. Since signage is not a permanent upgrade to the facade, the GMA will only consider 50% of signage cost in the reimbursement determination. The façade grant is to improve the look of the façade of a business, including painting, trim, planters, etc. Changes to the façade are more permanent and benefits the entire GM by upgrading a business look.
The Façade Improvement Project is administered by the GMA Design Committee. The Design Committee is composed of Golden Mile business owners, architects, engineers, residents and others who want to improve the physical appearance of the Golden Mile. The Façade Improvement Project is funded by the State of Maryland’s Community Legacy Program.
To date 2020, the GMA has processed eleven facade grant applications – nine facade upgrades have been completed and two other are in process. Additional details on the facade grant application can be found under GMA accomplishments.
If you are interested in applying for a grant for facade improvement please fill out and sent the completed GMA Facade Grant Application to the Golden Mile Alliance Design Committee at the address on the application.
Real Property Tax Credit
A 10-year County and City tax-credit based on the increase in real property tax assessments resulting from commercial capital investment. The credit is calculated during the first five years as 80 percent of the assessed property improvement, and then decreases 10 percent annually to 30 percent in the 10th year.
State Property Tax Credit
For additional information, visit the MD Department of Commerce website.
The City of Frederick offers a matching grant program for property improvement projects by City businesses with fewer than 25 full-time employees – AND – the industries of advanced technology, manufacturing, life sciences, and IT – OR – in a location that would provide a catalytic effect on the area immediately surrounding the business.
For full details and information to apply contact the City’s Department of Economic Development.
Are you a business or building owner along the Golden Mile? Are you looking for funding? Apply for funding by downloading the GMA Façade Grant application.