Must be in Downtown Commercial area.
Appleton Commercial Rehabilitation 2024
The City of Appleton is preparing an application to Minnesota’s Small Cities Development Program (SCDP). This program would cover up to 80% in grants/loans for eligible improvements to your commercial building. If the program is funded, the earliest you could access funds for your property is the spring of 2025.
The maximum SCDP funds available per project is $40,000, and up to 80% the total project cost. Based on a total project cost of $50,000 and the above financing scenario, the financial breakdown would be as follows:
$35,000 70% SCDP forgivable deferred loan (1/5th forgiven each year for 5 years)
$5,000 10% SCDP installment loan (1% interest over 5 years, owner responsibility)
$10,000 20% bank loan/owner savings (owner responsibility)