TIF, challenge grants for downtown development

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Two different funding mechanisms are now available through the Downtown Development Authority for those interested in downtown development projects.

The programs, tax increment financing through reimbursement contracts and challenge grants, require an application and review process.

The deadline for challenge grant applications is April 30. Applications for TIF are ongoing.

Application forms are available on the Downtown Partnership’s Web site or can be picked up at their office, 111 S. Tejon, Suite 309.

The DDA will issue up to $300,000 in grants this year, with half of that earmarked specifically residential projects. The maximum grant award will be $50,000, with most grants ranging between $10,000 and $25,000.