(a) Definition. Any property owner that remodels the exterior facade of an existing structure, constructs an addition to an existing structure, or any ancillary improvements such as decorative features, curbing, sidewalks, and demolition visible from the front facing street right of way may be eligible.
The following improvements do not qualify for this incentive:
• Paving of parking facilities,
• New Construction,
• Portions of exterior improvements not visible from street right of way,
• Interior renovations,
• Underground or above ground utilities,
• Landscaping,
• Advertising Signs.
(b) Grant Award. A grant equal to twenty (20) percent of the total investment with a minimum qualified investment of $2,000.00 which will equal a $400.00 reimbursement grant to a maximum grant reimbursement of $10,000.00 for an qualified investment of $50,000.00
or above. (Passed 10-10-16.)
(c) Qualifying requirements.
(1) Application must be submitted and approval received from the city prior to application for a building permit.
(2) Successful applicants must invest a minimum of $2,000.00 and provide verification sufficient to the City indicating the investment;
(3) The property must be located within a BPO, B1, B2, or I1 zoning district.
(4) City council shall have the final authority on grant approval after receiving a report and recommendation from city staff and the Bridgeport Development Authority (BDA). City council shall render a decision within 45 days upon receipt of an approved application.
(Passed 3-28-16)