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New West Salem Grant Funds Available in JulySalem-News.com Staff
Grant funds will be issued on a first-come, first-serve basis.
(SALEM, Ore. ) - Beginning in July, the City of Salem will be offering a new grant program, the West Salem Redevelopment Grant Program, to help property owners, businesses, and tenants in the West Salem Urban Renewal Area.
Grant funds may be used to add on to an existing building, construct a new building, or increase building utility for manufacturing purposes.
Where applicable, grant funds would be available at a rate of $1 to every $4 of private investment in the project, up to a maximum grant of $300,000.
For example, a West Salem building owner looking to construct a $400,000 building addition would be able to apply for a $100,000 grant to help complete the project.
Building improvements paid for with funds from the West Salem Redevelopment Grant Program must remain in the West Salem Urban Renewal Area for at least 10 years. Grant funds are only applicable to permanent improvements to industrial, commercial, or mixed-use multi-family buildings in the district.
Grant funds will be issued on a first-come, first-serve basis; subject to availability, and may not be used for temporary improvements or demolition costs. Tax exempt properties and organizations are not eligible for grant funds.
The 453 acre West Salem Urban Renewal Area is roughly bound by Rosemont, 9th Street, Taggart Street, and the Willamette River.
Source: City of Salem
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