Business Assistance  ... Local Assistance

The Dalles Urban Renewal Agency
Property Rehabilitation Grant and Loan Programs
The Columbia Gateway/Downtown Urban Renewal Plan and Report allows for a variety of projects and activities including Property Rehabilitation Grant and Loan Programs. The program consists of the Historic Design and Restoration Program and the Redevelopment of Unused and Underused Property and Civic Improvements Program as funds are available.

Historic Design and Restoration Program
The Urban Renewal Agency will provide design services and loan interest rate subsidies to assist in the financing for the restoration and renovation of historic building and buildings located in the Historic Districts in the Urban Renewal Area.

The Agency will provide a one-time grant of up to $3000 for professional architectural and engineering design services for restoration meeting historically compatible requirements and other city regulations. The grants are intended to assist the applicant in obtaining preliminary designs and cost estimates prior to starting a projects. It is expected that additional design work and detailed specifications will be required and included as part of the projects that is funded by the loan and/or other funds.

The Agency will subsidize interest rates on loans to pay for the restoration work according to the approved designs. The Agency will buy down the interest rate that the bank charges up to 12 points below the bank's standard rate for such loans. The effective rate for the borrower will be 0% in most cases.

Redevelopment of Unused and Underused Property and Civic Improvements Program
To encourage redevelopment of unused and underused land and buildings and other civic improvements, the Agency will provide interest rate subsidies and grants for business, civic, residential, cultural , and tourist-related property within the Urban Renewal District to be developed, redeveloped, improved, rehabilitated and/or conserved. Grants shall be made to public, nonprofit, and civic organizations and on uses that serve a public purpose.
The agency will subsidize interest rates on loans to pay for the restoration work according to the approved designs. The Agency will buy down the interest rate that the bank charges up to 12 points below the bank's standard rate for such loans. The effective rate for the borrower will be 0% in most cases.