Grants and Incentives
Incentives provided by the City of Ottumwa
Downtown Facade Grant: Reimburses 25% of qualifying facade improvements up to $10,000.
Downtown Roof Grant: Reimburses 50% of qualifying roof replacement up to $10,000.
Downtown Interest Buy-Down Program: Will pay up 7.25% interest on a 5-year loan up to $7,500. Paid within 30 days prior to closing.
Downtown Commercial Paint Program: Reimburses 50% of qualified paint projects up to $1,000.
Downtown White Box Program: Reimburses 50% of qualifying interior rehabilitation projects up to $10,000. Program is not intended for remodels or updates, instead, candidate projects would be buildings that have been unoccupied for long periods of time.
Tax Abatement: New taxes on projects that improve commercial property value by more than 15% can be abated using a 5-year sliding scale.
Tax Increment Financing: For qualifying Urban Renewal Projects the tax increment, or net taxes on new value, can be rebated to a developer or used to finance public improvements that spur private development.
Challenge Grant: City funds budgeted as matching funds for the Main Street Iowa Challenge Grant for vertical infrastructure projects that contribute to the Main Street District.
Main Street Iowa Challenge Grants
for brick-and-mortar building rehabilitation projects that contribute to the development of designated Main Street Iowa districts.
Maximum grant award will be $100,000. Minimum grant award will be no less than $25,000.
A 1:1 to match is required. In-Kind contributions are permitted for no more than 35% of the project match. In kind match must be documented, professional services.
Building project must be located within the local Main Street District boundaries.
The local Main Street Program must be the grant applicant on behalf of the property owner
Only one application per local Main Street Program is allowed
Open 4 Business Grant Program
Each Main Street community may submit one application for this grant program aimed to support business expansion projects within designated Main Street districts in Iowa. Participants must be a for-profit business located within a designated Main Street commercial district and been in operation for a minimum of one year prior to applying. Interested businesses will need to complete the application which includes a detailed project budget and a short business pitch video outlining their project.