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Commercial Revitalization Program
A.H. Properties "The Sacramento Housing and Redevelopment Agency has enabled us, through their financial and technical assistance, to improve our neglected commercial property in the North Sacramento area. Before the façade improvement on two properties, we could not attract a tenant for almost six months. Since the improvement, we have already leased major portions of the vacant commercial space. It has been a win-win-win situation for the neighborhood, our tenants, and us, the property owners. Thanks SHRA, you are doing a great job!" -Abdul Hafeez, A.H. Properties Since 1985, the Sacramento Housing and Redevelopment Agency has assisted the renovation of over 500 commercial properties throughout the City and County of Sacramento. The Commercial Revitalization Program provides exterior rebates and commercial loans to applicants in designated target areas. The program improves the appearance and viability of commercial buildings, and complements other public and private investment in target areas. Eligible Applicants Owners and tenants of commercial property located in eligible areas may apply to the program. The majority of applicants are property owners, however, tenants may receive full program benefits with the owner’s written consent to the planned improvements. Tenants may also receive a small rebate for signage in conjunction with the property owner’s full façade rehabilitation project. Eligible Areas Areas that are located in commercial revitalization target areas or designated redevelopment project areas are eligible for assistance under this program. The eligible program areas include address ranges in Alkali Flat, Del Paso Heights, Merged Downtown Area, North Sacramento, Oak Park, Old Sacramento, Franklin Boulevard, Stockton Boulevard, and North Highland. Zero interest loans are available in Walnut Grove, North Highlands, Old Florintown, Rio Linda, Auburn Boulevard and Folsom Boulevard and 65th Street. To determine your property’s eligibility for the Commercial Revitalization Program, please call 440-1328. Exterior Rebates The maximum rebate is 50% of the eligible costs. The maximum per project rebate is $50,000 unless the building is a registered historic structure. Projects in tax increment-funded areas will require completion of a maintenance agreement before funding. The applicant is required to provide or borrow matching funds to complete the project. (See loan programs below). Eligible Reimbursable Expenditures The following types of improvements are eligible for rebate:
Commercial Loans The Commercial Loan Program is designed to stimulate building improvements and upgrade the appearance of commercial properties in commercial revitalization target areas. This program is designed to provide gap financing in combination with a private lender. The maximum loan amount under this program is $500,000. Exterior Rebate Partnership Program River City Bank and California Bank and Trust are teaming up with SHRA to provide attractive loans that not only can be used for your matching funds requirement, but feature interest-only payments for the first year! Special Program for Historic Properties Properties that are considered “historic properties” are eligible for up to a $75,000 rebate. Historic properties are defined as those buildings that are listed on the National Register of Historic Buildings, are located within a historic district or are listed on the state or local inventory of historic places. The rebate can apply to interior or exterior improvements, which are required to maintain the historic character of the structure. Design/Plan Review All improvements must conform to the City and County of Sacramento Building codes, City of Sacramento overlay zones and special planning districts, and the Design Guidelines adopted for the respective area. Participant’s proposals may be subject to review by the applicable neighborhood’s SHRA Advisory Group. Design review (staff level) by the City of Sacramento is necessary for projects in Oak Park, Stockton Boulevard between Broadway and 14th Avenue, North Sacramento, Del Paso Heights, Alkali Flat, and the Central City. Historic buildings (over 50 years old) or projects located in designated historic areas are subject to review by the State Office of Historic Preservation. Ineligible Rebate Applicants/Projects*
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