Program

Storefront Improvement Fund

Minimum/Maximum Amounts

Minimum $1,000
Maximum $7,500; $10,000 for corner property

Eligible Activities

Restoration or rehabilitation treatment of a storefront to reflect historic precedent, or current architectural design or business trends as deemed appropriate for the building, block face and streetscape.  Available to business owners whether or not they are the building owner.

Term & Amortization

Amount approved to be based on project estimate(2 minimum), of which 100% to be financed through the loan program, up to stated maximum.  Up to 5 year term based on ability to pay.

Fully amortized

No payments during construction period, not to exceed 6 months.

Payments begin on the 1st of the month following 30 days after the final draw.  Advances are made on reimbursement basis for approved expenses.  Funds will be advanced in draws, but can not be advanced prior to phased work being completed.

Rate

0%

Fees

$250 application fee
1% loan fee
Actual recording and filing costs

Special Notes

Program limited to targeted areas of the city.  Presently these areas are the South Bethlehem Redevelopment Area, North Side Central Business District, Northside Neighborhood Business Districts.  Please verify eligibility by calling the City of Bethlehem Office of Economic Development.

Construction plans for properties that are located within one of the City's Historic Districts require a Certificate of Appropriateness, as advised by the appropriate local district commission, prior to loan approval and construction.  Construction plans must comply with the Secretary of the Interior's Standards for Building Rehabilitation.

Labor costs are subject to Davis Bacon Prevailing Wage regulations

All loans are paid by electronic funds transfer on the 1st of each month.

Loans will be collateralized whenever possible.

Job Creation/
Retention Requirements

Where to Apply

City of Bethlehem
Office of Economic Development
10 E. Church Street  
Bethlehem, PA 18018

Contact Person

Howard Lieberman
Economic Development Coordinator
Phone: 610-865-7318
Fax:      610-865- 7310
email:   liebehow@bethlehem-pa.gov

Web link

www.bethlehem-pa.gov/econ_dev/econ-dev

Application Download Available