The City of Raleigh’s Façade Grant Program helps businesses and property owners in older commercial areas upgrade and improve their building’s exterior appearance.  Since the program’s inception in the early 1980s, it has assisted in the rehabilitation of more than 100 buildings, increasing their attractiveness to new customers and contributing a positive influence toward revitalization of their respective areas.

The Program’s Goals

• To promote façade rehabilitation of commercial and mixed use buildings in the downtown area, commercial areas adjacent to the downtown, and older pedestrian business districts.
• To preserve special characteristics of these areas by helping owners make quality building improvements that foster a sense of place and overall consistent image for an area.
• To compliment other revitalization efforts, such as sidewalk and landscaping improvements.
• To promote an attractive environment for new investment and business activity.

Assistance Programs

Façade Rehabilitation Grants
Grant rebates for a portion of exterior rehabilitation costs are available on a first-come, first-serve basis for buildings located in the downtown or in one of the pedestrian business overlay districts for which streetscape guidelines have developed.  (Routine maintenance, as opposed to highly visible improvements, is not eligible for grant funding.)  Funds are available once per address every ten years.

Eligible improvements include:
• The removal of false fronts (such as aluminum panels).
• Repair or replacement of windows, doors, and cornices.
• Repair or replacement of façade materials.
• New, more appropriate signage.
• New awnings.
• Exterior painting (when part of a larger rehab effort).

Grant Types and Amounts
1) Downtown Core Rehabilitation Grants
Grant rebates of up to $10,000 or 50 percent of exterior rehabilitation costs (whichever is less) are available for projects located in the City’s Downtown Core, which is made up of existing buildings located on the following downtown streets:
• Fayetteville Street Mall
• South Salisbury Street
• South Wilmington Street
• The east and west 000 blocks of Hargett Street, Martin Street, and Davie Street

In order to qualify for these grants, projects requesting these grants must comply with the design guidelines of the Raleigh Urban Design Handbook.  These are special one-time grants available on a first come/first served basis until June 30, 2008.

2) Downtown and Pedestrian Business Overlay District Façade Grants
Grant rebates of up to $5,000 or 50 percent of exterior rehabilitation costs (whichever is less) are available for buildings in other areas of Downtown or in one of the Pedestrian Business Overlay Districts for which streetscape guidelines have developed (such as Glenwood South).  Review and approval of proposed rehabilitation projects are based upon the design guidelines or streetscape plans for the area in which the project is located.

Design Assistance
At no cost to program participants, concept drawings and design suggestions can be prepared by an architectural consultant showing ideas for exterior improvements.  These improvement suggestions are tailored to be relatively quick and inexpensive to implement, yet they can dramatically upgrade the appearance of the building.  This assistance is dependent on the use of a façade grant.

Program Eligibility
Property owners or business tenants in the Downtown or one of the Pedestrian Business Overlay Districts may apply.  Tenant applications must have the building owner’s written approval.  All applications must be submitted for approval prior to the beginning of construction.

All rehabilitation work must comply with all applicable City codes, ordinances, and policies, including but limited to building code requirements, local ordinances (including historic district guidelines, where applicable) and established design standards for the designated area.

Work must fully follow plans and renderings as approved by the City of Raleigh Planning Department.  Renovations must be completed within twelve months of the date of project approval and an agreement to maintain the façade for a period of ten years must be signed by the applicant.  Once work is completed and reviewed, the applicant must submit proof of payment for rehabilitation (usually in the form of paid invoices) in order for the City to provide reimbursement.

For More Information
Contact: Carter Pettibone, Planner II
Planning Department
133 Fayetteville Street Mall, Suite 100
Raleigh, NC 27601
919-807-8482

(back to top)

 

Small Business Loans

While our economy is changing, the reasons you went into business are still the same – personal financial security, and a good quality of life. And if you are starting a new business or buying an existing one, financial security and quality of life should also be your motivation for success.

Whether you are growing, starting, or acquiring a business, you need capital. And the capital you need may not be that far away -- perhaps at your local bank.

If you need capital, but don’t have the time or patience to complete the required documents, RADA’s Small Business Solutions program may be the answer.

Whether you need working capital to finance growth, long-term funding for acquisition of major equipment, or financing to acquire a business, RADA may be able to assist you.

Here’s how:

• RADA Small Business Solutions can prepare your complete SBA “7 (a)” loan package for submission to your bank or other approved SBA lender.
• RADA staff will work with you through the entire SBA loan process.
• RADA staff will act as your eyes and ears throughout the process, assisting you in providing complete and prompt responses to bank and SBA requests for information. We stay focused on your loan, while you focus on moving your business to the next level
  

WHY RADA?
We are a not-for-profit community economic development organization whose mission is the general improvement of the quality of life of our community. Similarly, the objective of our Small Business Solutions program is the success of the small businesses and entrepreneurs that serve this community.

To achieve this, the program is managed and staffed by a team of experienced entrepreneurs who work closely with your selected bank, and with local SBA officials to ensure that your application is submitted completely and accurately, the first time. Our motivation is simple -- your success, and the success of the communities we serve.

THE SBA 7(A)LOAN PROCESS
The SBA 7(a) process is extensive. It acts as a screening device designed to help determine your eligibility and potential to successfully repay the loan. Our role is to help you through this process, and hopefully achieve approval of your application.

WHAT NEXT?
Call us today at 919.807.8400. At the prompt, select Commercial Projects & Small Business Financing, and the process begins. Here’s what to expect:

• We will send you information about the SBA 7(a) program
• We will provide a copy of an agreement describing how we will assist you and our fees
• We will want to spend time with you at your business, or at our office if you are not currently in business
• You will sign an agreement to purchase our services as your SBA 7(a) loan packager
  All discussions will be completely confidential.
• Following the above, and assuming all required information is available, your application can be ready for submission in 7-10 working days.
• You will approve and receive a copy of the final loan package. RADA will retain a copy and 2 copies of the package will go to the SBA and participating bank.

Fees You Can Afford
RADA charges a market rate fee for its loan packaging and financial intermediary services. These fees help RADA provide affordable services to borrowers who do not have the time or capacity to focus on preparation of information required for bank or government loan applications.

While this process is demanding, the value of an SBA 7(a) loan can mean the achievement of your business goals.

Call today at 919.807.8400; Listen to the prerecorded message and select
“Commercial Projects & Small Business Financing”

Or email your contact information to connect@rada-nc.com

 

(back to top)