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Retail and Service Business Owners: Make an
Investment in Your Business and Community!
Main Street Morgantown, Inc., is a non-profit organization dedicated to
creating and maintaining our city s downtown as an attractive, clean,
safe center of commerce, government and education.
REASONS TO JOIN THE TEAM:
Programs & Services Provided
Facade and Sign grants
Monthly newsletter
Free design assistance
Discount on downtown promotions
Workshops
Historic tax credit assistance
Low interest loan program
Annual Downtown clean-up day
Promotion calendar
Streetscape/visual improvements
Gift certificate program
Conference packet/program
Ticket validation program
General advertising program
Discounts by other MSM members
Building inventory database
Professional website
Downtown sidewalks
Maintenance program (weekly & weekends)
Advocacy
Trolley program
Business recruitment
Directory kiosk program
Businesses on the INTERNET
Expanded advertising budget
Urban design guidelines
Street banner inventory
Membership is tax deductible (501C-3)
Past Accomplishments
$28 million in total investment
173 new businesses, relocations and expansions
928 new jobs
150 new facades/rehab/new construction
20 public improvements
Parking garage located on Spruce Street
Tree planting program
Downtown beat cop program
Christmas lighting project
Community awareness of historic buildings
Historic walking tour
Sign improvements
Grants
Wall Street project
Comprehensive plan
Property design projects
Downtown accessibility
Business recruitment program
Yearly promotional calendar
Parking plan
Community recognition program
Historic hotel renovation
Benefits to you
Increased sales
Improved image
Increased value of business
Coordinated efforts between businesses
Increased traffic
District marketing strategies
Better business mix
Have needs/issues addressed
Liaison with city, county and state agencies
Opportunity to participate
Local, state and national recognition
Projected Future Projects
Central Business District sign program
Riverfront development
Conference Center
Office Space
Expand Christmas light program
Metropolitan Theatre renovation
Wharf area development
Streetscape projects
Merchant cross-selling program
Market-on-High program
Wayfinder signage program
Professional business recruitment program
Utility line project
Building redevelopment program
Entertainment district development
Improvement Program
LOW INTEREST LOAN POOL
The loan pool was created to provide low interest loans for improving
building facades and assisting with new construction in the Main Street
district. The purpose of the program is to encourage building and
business owners to invest in downtown property and provide special
attention to the appearance of the facades. For the historic buildings,
their integrity is protected by the use of design guidelines. New
construction should complement existing buildings and design guidelines.
The buildings in our downtown are one of our greatest assets. These
buildings reflect the history, cultural and economic vitality of our
city. Historic buildings add to the ambiance of downtown and provide a
snapshot of our past. New buildings in our downtown provide for
economic development and create excitement for the future.
Participating Financial Institutions
The applicant may use the financial institution of his/her choice.
Listed below are the Main Street Morgantown Low Interest Loan Pool
participating financial institutions.
Citizens Bank of Morgantown
(304) 292-8411
Huntington Banks West Virginia
(304) 291-7700
WesBanco
(304) 284-2400
BB & T
(304) 285-2316
United National Bank
(304) 296-8351
First Exchange Bank
(304) 225-6200
Contact Main Street office today for more details or an application
(304) 292-0168.
Grant Program Guidelines
A matching grant program for facade renovation is available for
existing property or new construction. This program is designed for
projects not requiring bank financing. The match on the facade grant is
10 to 1. (Example: If you spend $5,000 on a facade project, you can
receive $500 in grant funds.) The maximum is $1,000. Low interest loan
projects are not eligible for the grant program. A possible bonus is
also available.
Who is Eligible to Apply?
Downtown Property Owners
Property Administrators
Lessees ( Lessee must provide written consent from the property owner
and the owner must sign all required documents.)
How Do I Apply?
Contact the Main Street Morgantown office at 292-0168 or desired
financial institutions for an application and to receive a Main Street
Morgantown Urban Design Guidelines brochure. The Main Street office can
arrange for free design assistance. All guidelines must be followed and
be approved by the Review Committee.
If you do not need design assistance, please submit plans, as
instructed in the application, for approval by the Review Committee.
All projects must be approved by this committee.
The application, design plans, cost estimates and construction
schedules must be filed with the Main Street Morgantown office.
Special Conditions
If the applicant, at any time, deviates from the requirements set out
by the review committee, the low interest loan rate will not longer be
in effect. Applicants must agree to follow Main Street Morgantown
Design Guidelines and additional recommendations of the review
committee to insure sensitive rehabilitation of the commercial
properties. Applicants must be a member of Main Street Morgantown.
Additional Incentives
Tax Credits Certain costs that are incurred with the rehabilitation of
an old structure are eligible for tax credits. Also tax credits are
available for handicap accessibility improvements. Inquire at the Main
Street office.
Grant Programs
Inquire at the Main Street office regarding special grants that are
available through local and state programs.
Loan Program Guidelines
1. Existing Buildings
The purpose of this program is to encourage business and property
owners to reinvest in their buildings and to improve the appearance of
the facades. The historic integrity of each building is protected by
the use of design guidelines.
Loan Amount: All proposals considered
Maximum Term: 5 years
Interest Rate: Participating banks agree to a 1% interest rate
concession and the City of Morgantown's grant program provides for a 3%
interest rate subsidy making the effective rate 4% below the normal
bank financing rate.
Eligible Projects: Loans are strictly for facade improvements. Samples
of eligible activities are:
Signage
Windows
Lighting
Painting
Awnings
Masonry Cleaning & Repairs
Facade Rehab
Handicap Accessibility (doors, etc.)
2. New Construction
The purpose of this program is to provide funding for new construction
projects. It is important that new buildings respect the surrounding
buildings with regard to height, setback, spacing, materials,
detailing, rhythm and scale. This program insures that new
construction, with an emphasis on the facade, will compliment the
character of the downtown.
Loan Amount: All proposals considered
Maximum Term: 5 years
Interest Rate: Participating banks agree to a 1% interest rate
concession. The bank's interest rate concession is a maximum of $2,500
over 5 years. The City of Morgantown will provide a 3% interest rate
subsidy with a maximum of $5,000 per loan. These subsidies make the
effective rate 4% below the normal bank financing.
Eligible Projects: Loans are restricted to new construction projects
within the Main Street district.
Approval: Each application must first be approved by the Main Street
Morgantown Review Committee. The application is then forwarded to the
lending institution selected by the applicant. The project must begin
within 90 days of loan approval.
The Program Manager can provide free design assistance by the WV State
Architect. Also, resource materials in areas of design, historic
preservation, handicap accessibility issues and faÁade rehab are
available. encourage business and property owners to reinvest in their
buildings and to improve the appearance of the facades. The historic
integrity of each building is protected by the use of design guidelines.
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Main Street
Morgantown Blog
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