Façade Improvement Grant Program
This program provides financial assistance to property owners or tenants seeking to renovate or restore commercial building exteriors. This program is intended to enhance the City of Carlyle and achieve overall community beatification through the improvement of the physical appearances of businesses. Through this program the City hopes to make a positive statement about the business climate to the community, visitors, as well as existing and potential business tenants. Grant funds are made available through the TIF fund which is administered by the City of Carlyle.
To promote economic development, the City of Carlyle has created a Tax Increment Financing (TIF) district. Developers that plan to construct or renovate in a TIF district are able to receive financial assistance for the development from dollars that would be paid to property taxing districts because of the increased valuation of the property with the improvements.
The following types of activities may be reimbursed using TIF revenues:
• Studies, surveys, and planning activities completed by professionals
• Acquisition of property and its preparation, such as demolition and grading of land.
• Reconstruction or remodeling of existing buildings and fixtures.
• Construction of public works and improvements.
• Costs of job training and retraining.
• Certain amounts of financing costs, including construction and bond interest.
When a developer and the City reach an agreement on the eligible activities that will be financed using TIF revenues, work may commence on the eligible activities. When work is completed and when dollars from the tax “increment” are available for payment, reimbursements are made to the developer.
In May 2006, the City created TIF District #3 which encompasses property commonly known as the “West End Development” that was annexed into the City in September 2005.
For assistance or any questions regarding Carlyle’s TIF program, please call the City Administrator at 618-594-2468
Revolving Loan Fund
To promote economic development in Carlyle, the City has established the Revolving Loan Fund to assist business and job retention and growth. Revolving Loan funds are meant to supplement other sources of financing, including public and/or private sector financing. Loans are low-interest.
Any business seeking to locate or expand in Carlyle is eligible for Revolving Loan financing. Business projects financed with Revolving Loan funds must create or retain jobs to be eligible for financing.
Applicants for funds must have at least 10% equity in the project being financed. Applicants must leverage at least $1.00 of private financing (private lending institution or State or Federal program) for every $1.00 of Revolving Loan funds received. For every $15,000 of Revolving Loan funds received, at least one job must be created or retained. Other requirements must be met.
Any of the following purchases or activities may be financed with Revolving Loan funds when they lead to job creation or retention:
• Land and building acquisition
• Building renovation and/or expansion
• Site improvements
• Working capital (inventory and direct costs only; may not exceed 20% of loan amount)
• Purchase of permanent fixtures and equipment
The following are ineligible activities:
• Refinancing of existing debt
• Reimbursements for expenditures made prior to loan approval
• Payment of applicant’s own labor for construction or improvements
• Specialized, non-essential equipment
• Residential building construction (unless converting to a commercial or industrial operation)
For assistance or any questions regarding Carlyle’s RLF program, please call the City Administrator at 618-594-2468