There are many perks to doing business and developing in the Hammond Downtown Development District. State and Federal Historic tax credit still exist for qualifiying projects as well as two Hammond DDD established incintivies, the Facade Grant Program and the Revolving Loan Program. All of these options encourage the renovation and improvement of the district’s existing buildings, as well as promote and encourage new business and development.
If you plan to renovate the exterior of your building including: renovations to the building front, awnings, painting or lighting, the Façade Grant program may be right for you. The Façade Grant awards are not to exceed $2,000 and must be matched dollar for dollar by the recipient. Only one application per fiscal year, work must be finished to apply. Façade Grants are not awarded for signage.
In 2018 the DDD distributed $6,815 in facade grants.
*Plese note that all applicaitons must have Historic District or DDD Design Committee approval to be eligible for funding.*
DDD offers a low interest loan to property owners and business owners in our District for up to $75,000 with an interest rate of 2 below prime. Applicants for the loan fund must be a registered sole proprietorship, partnership or corporation established for doing business in the DDD. Renovations are not limited to façade only, eligible projects include: acquisition of land for industrial or commercial use, acquisition of improved properties with development potential for industrial or commercial use limited to owner or tenant occupancy, start-up and/or expansion of businesses in the DDD, rehabilitation and renovation of usable vacant buildings for specific industrial or commercial use in the DDD.
If you are interested in applying for a revolving loan, please contact the DDD.
In 2018 the DDD distributed $249.196 in Revolving Loan funds.
Federal Tax Credits for Historic Buildings:
Louisiana is a nation leader in dollars used for the Federal Tax Credits. Main Streets across the country fought and opposed the cut to this program and successed! Any qualifying building in the Historic District can utalize this problem.
If you are interested in applying for a Federal Tax Credit, please contact the Hammond Historic District- 985-277-5684
The Hammond Downtown Development District is an equal opportunity provider.
Find more funding options and education in the links below.