The City of Cadillac, Downtown Development Authority, and Brownfield Redevelopment Authority sponsor a variety of programs designed to assist downtown business and/or property owners in expanding and improving their businesses and buildings. The following is a list of incentives currently available:

 

•  DDA Low-Interest Loan Façade Improvement Program

This program is available to properties within the boundaries of the Cadillac Downtown Development District. Up to $30,000 is available per building for façade improvements, which may include front and/or rear facades, or any side façade that abuts public property. Both building owners and tenants are eligible. Façade loans are made in partnership with the applicant’s choice of three local banks, including Fifth Third Bank, Citizens Bank, and Chemical Bank West. Complete program guidelines and façade loan application forms are available from the DDA office . Contact Precia Garland , Assistant City Manager at (231) 775-0181, ext. 120 or www.cadillac-mi.net for more information.

•  DDA Public Infrastructure Improvements

The Cadillac Downtown Development Authority (DDA) established a Tax Increment Financing (TIF) and Development Plan in 1993. This plan allows the DDA to collect TIF revenues and complete public infrastructure improvements throughout the downtown development district. Examples of recent projects include the West Pine Street Parking Lot development, the “Downtown Cadillac, Lakeside District” Wayfinding Signage program, and the 2004 streetscape improvements scheduled for Harris Street and South Street. The DDA Board prioritizes future projects every two years through a strategic planning process. Projects are selected based on their overall ability to contribute to the revitalization of downtown Cadillac and encourage private investment.

 

•  Brownfield Remediation, Site Preparation and Public Infrastructure Improvements

On December 2, 1996 the City of Cadillac created the first Brownfield Redevelopment Authority (BRA) in Michigan, in accordance with state law. The BRA uses tax increment financing (TIF) revenues generated from specific brownfields to fund environmental clean-up, as well as site preparation and public infrastructure improvements on these sites. A property must meet specific criteria and be listed in the Cadillac BRA Development Plan in order to be eligible for BRA assistance. Contact City Manager Peter Stalker, (231) 775-0181 ext. 119 for additional information.

•  DDA Elevator Grant Program

DDA District property owners planning new construction or major renovation to buildings open to the public and in need of barrier-free accessibility are encouraged to consider the DDA Elevator Grant Program. In order to qualify for a DDA Elevator Grant, a project must satisfy specific private investment and job creation/residential tenant creation criteria. When these criteria are satisfied, the DDA will reimburse the developer for the cost of the elevator up to its cost or ten years of TIF capture on the specific property, whichever is less. A copy of the DDA Elevator Grant policy is available at www.cadillac-mi.net or by calling Precia Garland , Assistant City Manager at (231) 775-0181, ext. 120.

•  Obsolete Property Rehabilitation Exemption (OPRE) Certificates

The purpose of an OPRE certificate is to abate new property taxes for up to 12 years, which would otherwise have been assessed following the substantial rehabilitation of an obsolete property. Properties that qualify for an OPRE must be listed in the City of Cadillac Brownfield Redevelopment Authority Plan and be certified as “obsolete” by the Wexford County Equalization Director. OPRE applications require both Cadillac City Council and State of Michigan approval. For more information, contact Precia Garland , Assistant City Manager at (231) 775-0181, ext. 120.

•  City of Cadillac Rental Rehabilitation Program

This program is designed to provide safe and affordable rental housing to low-income tenants, who are at or below 80% of the area median income. Grant funds are provided to rehabilitate existing rental units with assistance from the City of Cadillac and Michigan State Housing Development Authority (MSHDA). A landlord may improve up to two rental units through this program. This program is limited to rental units located within a specified downtown neighborhood area. Program availability ends May 31, 2004. For more information regarding this program, please contact Owen Roberts, Accountant, City of Cadillac at (231) 775-0181, ext. 110.

 

The City of Cadillac is also able to make referrals to businesses regarding SBA loan programs. Additionally, projects are often coordinated with the Cadillac Downtown Fund, a non-profit, private corporation dedicated to downtown revitalization. The Downtown Fund prides itself in facilitating downtown developments with private sector investors through its confidential networking skills, ability to creatively problem solve, and access various public and private resources.