City to Accept Neighborhood Reinvestment Grant Applications Beginning October 5
The City of Frankfort has opened applications for the Neighborhood Reinvestment Program. The revised program requires property owners to submit only one application at a time. Once a project has been completed, property owners are permitted to submit an additional application.
The Program is intended to help stimulate the rehabilitation of the physical structure of a few of Frankfort’s most established neighborhoods within the City. This program is available to property owners within the two original historic districts (South and Central), as well as Bellepoint/Buttimer Hill and the Holmes Street Area. Each district has a fund of $50,000 which will be disbursed on a first come, first served basis.
Reinvestment Program applications will be accepted on a rolling basis beginning October 5, 2018, and will continue until the funds for each district are exhausted. Awarded projects will have 12 months to complete their renovations.
Grants for the projects that fall under the Program will be made available to each selected project after full completion of the project has been verified. Rehabilitation must be located on the exterior of the building and meet the criteria listed in the application. If approved, the City will contribute up to 40% of the total project costs with a maximum City grant award of $8,000 for a qualifying project totaling $20,000 or more. A minimum total project cost of $5,000 is a requisite for all applicants.
Eligible improvements include restoration, repair, and stabilization of exterior; and reconstruction of missing elements or features. Typical projects include roofs, window repair, painting and masonry repair. A full list of eligible as well as ineligible costs and improvements as well as applications can be found on the City website at www.frankfort.ky.gov. Applications are also available at City Hall, 315 West Second Street.
For additional information please contact Eric Cockley at 502-352-2100 or Rebecca Hall at 502-352-2076.