(A) The City Manager will promulgate rules and regulations governing the requirements, procedures, terms, and scope of grants and incentives listed in this section. All grants and incentives may be suspended by the City Manager.
(B) Property owner grants and incentives.
(1) Property reassessment moratorium. This incentive is as outlined in § 35.08. Participants of this program will be awarded the Commercial Property Rehabilitation Program grant, if requested.
(2) Commercial property rehabilitation program. This incentive provides reimbursement for some dumpster rental fees, water tap fees, and water usage costs for up to 90 days. Water related reimbursements shall not exceed six hundred dollars ($600) in any case. Properties which qualify for this program are those that meet the following requirements:
(a) Are located in the Central Business District.
(b) Are commercial or intended for commercial use.
(c) Are at least twenty-five years old.
(d) Have planned improvements to be made to them which would equal at least five percent (5%) of the value of the property as shown on the most recent assessment by the Property Valuation Office (PVA).
(e) The owner must agree to reserve the street level floor of the building for businesses such as restaurants, retail stores, or cultural or entertainment focused businesses (or maintain a commercial purpose that existed prior to January 1, 2019) for five (5) calendar years from the date of the first reimbursement payment with the Main Street Director or City Manager making the determination as to whether proposed tenants meet the criteria.
(f) The owner must agree that use of the street level floor of the building for nonconforming business or entity will result in the loss of any future grant funds and/or incentives and repayment of grant funds or incentives received.
(g) If an applicant desires to request a waiver from the off-street parking and loading facility requirements found in § 156.130 for the purposes of providing residential space on upper level floors, this request must be included in the application.
(C) Business owner grants and incentives. Please note that incentive approvals and amounts will be dependent upon available budgetary funds and the number of requests under consideration.
(1) Requirements. In order to be eligible for these grants and incentives, business owners and/or the owner of the property in which these businesses are located must meet the following requirements subject to exceptions as noted:
(a) Businesses must provide a business plan produced with assistance through the Shaping Our Appalachian Region Innovation program, the Morehead State Small Business Development Center, or other approved programs.
(b) Applicants must agree to background, credit, and references assessments if required by program regulations.
(c) Available for commercial property owners and business owners located within the Central Business District only.
(d) Government buildings, government entities, national franchises, and other entities that have five or more operating locations are not eligible.
(e) Incentivized improvements are to remain in place and maintained for a minimum of five years unless the Pikeville Main Street Program approves earlier changes.
(f) All City of Pikeville property taxes and licenses must be current.
(g) Additional Requirements for each program may apply.
(h) Program participants must agree to be open for business during any City of Pikeville, Pikeville Main Street Program, City of Pikeville Exposition Center Corporation (currently Appalachian Wireless Arena), or Appalachian Center for the Arts events upon request by the Main Street Program.
(i) Program participants must agree to membership in any merchant association or similar group that may be established by downtown merchants provided there is no mandatory membership fee or time commitments that average more than one hour per week.
(j) Program participants must agree to refund any grant payments should the business not remain active a for a period of one (1) calendar year from the date that they are opened to the public.
(2) Beautification micro-grants. Businesses can receive a match of up to one hundred dollars ($100) for eligible beautification projects including painting, lighting, or the addition of flowers or art. Business Plan requirement does not apply.
(3) Facade/signage grants. This financial incentive will reimburse a match for eligible improvements to the exterior of a commercial property up to eighty percent (80%) of the total project costs. Business Plan requirements do not apply for existing businesses. Grant amount is not to exceed one thousand dollars ($1,000). Grant specific guidelines are as follows:
(a) Completed applications must be submitted to and approved by the Pikeville Main Street Design Committee prior to work beginning. The Design Committee may take an active role in design and procurement at the applicant’s request.
(b) Grants are not awarded for work done prior to approval.
(c) Work must be completed within 180 days of grant award.
(d) The Pikeville Main Street Program will verify that the work was done according to the approved application before reimbursing funds.
(e) Eligible improvements are as follows:
1. Repair or purchase of new awnings;
2. Removal of non-historic materials (e.g. siding that covers transom windows, bricked-over window or door openings, removing paint from brick, and the like);
3. Exterior painting (except for applying paint to unpainted brick);
4. Exterior lighting or interior storefront window display lighting that remains on during evening hours;
5. Replace and/or install new signage;
6. Other improvements may qualify on a case-by-case basis.
(4) Historic Building Facade Grant Program. This will be a reimbursement match of eligible improvements to the exterior of historic commercial properties up to fifty percent (50%) of the total project costs-Grant amount is not to exceed five thousand dollars ($5,000). Eligible improvements are as follows:
(a) Masonry or mortar joint repair following historic guidelines for repair;
(b) Window or door repair/replacement conforming to National Standards for Rehabilitation;
(c) Transom and window repair/replacement conforming to National Standards of Rehabilitation;
(d) Replacement of architectural details;
(e) Other improvements may qualify on a case-by-case basis.
(5) Restaurant Incentive Grant Program. This program offers up to five thousand dollars ($5,000) per applicant to reimburse equipment, furniture, or other tangible assets associated with the relocation or start-up of the applicant’s restaurant into the Central Business District. Reimbursement is only available for purchases made after approval of the application and requires documentation of serial numbers, order numbers, or other identifying information. In addition, the Pikeville Main Street Program will provide consultation in aesthetic design/layout if desired by the applicant.
(6) Open Late Grant Program. This program grants up to four hundred dollars per month as an incentive for target businesses (excluding food and beverage related businesses) to stay open until 9:00 p.m. on Thursday, Friday, and Saturday nights. Approved applicants will make monthly submissions for reimbursement with said reimbursement being calculated based on a rate of thirty dollars per eligible days for which documentation is provided that the business was open until 9:00 p.m. In addition to this funding, the Pikeville Main Street Program will provide marketing emphasizing the later hours. Program may be seasonal, and prior notice will be given to businesses before seasonal suspensions of the program.
(7) Street Level Rent Subsidy Grant Program. Businesses which fit the target business requirement and are either new businesses or a business that has relocated into the Central Business District within the twelve months preceding the date of the application may receive, if approved, a reimbursement of monthly rent in the amount of fifty percent (50%) of the rent payment up to a maximum of four hundred dollars ($400) each month. This program is subject to the following:
(a) The subsidy will cover a term of twelve months with a maximum of twelve (12) consecutive monthly reimbursement payments.
(b) Prior to the end of the initial subsidy period, an application may re-apply for a second twelve (12) month period with all terms except the reimbursement amounts being the same as the initial term. If approved, the second twelve (12) month period would provide for a reimbursement of twenty-five percent (25%) of the rent payment up to a maximum of two hundred dollars ($200) per month.
(c) In the event that a business receiving this grant is not open to business to the general public within ninety (90) days from the date of the first reimbursement, reimbursement will be suspended until such time as the business is open to the general public. Payments would then resume, and the business would still be eligible for a total of twelve (12) months of reimbursements under the original approval.
(8) Upper Level Rent Subsidy Grant Program. Businesses which do not fit the target business requirements (such as attorneys, accountants, or other professional services) or non-profit entities currently located at street level of a commercial building within the Central Business District may be eligible for a rent subsidy should they relocate to an upper level in a building also located within the Central Business District. This rent subsidy would be a reimbursement of monthly rent in the amount of fifty percent (50%) of the rent payment up to a maximum of four hundred dollars ($400) each month. This program is subject to the following:
(a) The application must be made prior to the relocation.
(b) The subsidy will cover a term of twelve (12) months with a maximum of twelve (12) consecutive monthly reimbursement payments.
(c) Prior to the end of the initial subsidy period, an application may re-apply for a second twelve (12) month period with all terms except the reimbursement amounts being the same as the initial term. If approved, the second twelve (12) month period would provide for a reimbursement of twenty-five percent (25%) of the rent payment up to a maximum of two hundred dollars ($200) per month.
(9) Under One Roof Program. Owners of commercial properties located within the Central Business District are eligible to apply for assistance to convert the street level floor to a shared space with multiple target businesses operating together. This program is subject to the following:
(a) Each business must have a minimum of one thousand (1,000) square feet of space and the street level of the building must have at least two thousand (2,000) square feet of total space available for rent.
(b) An agreement must be entered into between the property owner and the Main Street Program codifying the terms of the agreement which includes, but is not limited to, the requirement of a five (5) year term.
(c) The Main Street Program will make recommendations for businesses to be installed whereas the property owner will be responsible for finalizing any rental/lease agreement which must be for a term of at least one year.
(d) The businesses recruited must all meet the general requirements and be subject to the restriction found in this section.
(e) Each of these businesses will automatically be approved for the Rent Subsidy Grant Program.
(f) Each of these businesses will automatically be approved for a facade/signage grant. The recruited businesses must agree that a portion of these grants may be pooled to improve the facade and/or signage of the entrance with the remainder being evenly allocated to each of their internal spaces.
(g) An additional reimbursement amount may be granted to cover all or some of construction costs necessary to prepare the available space to accommodate the agreed upon number of businesses.
(10) Main Street Program assistance. The Main Street Program will provide various types of assistance to businesses located in the Central Business District. Some examples are as follows:
(a) Tax credit application assistance. The Main Street program will assist eligible applicants in working with the Kentucky Heritage Council state and federal tax credit programs to assist building owners with renovations/rehabilitations.
(b) Design assistance. The Main Street Program will coordinate requests for design support through the Kentucky Heritage Council when available.
(c) Favorable loan program. The Main Street Program will work with applicants to coordinate with community lending institutions in the event any favorable loan term programs are available to those property owners and/or businesses who are approved to receive grants or to participate in other incentive programs included in this section.
(Ord. O-2019-07, passed 3-11-19; Am. Ord. O-2019-29, passed 11-12-19; Am. Ord. O-2022-21, passed 11-28-22)