BEATRICE, Neb. – City officials in Beatrice have approved the city’s first loans to revitalize downtown properties.
The Beatrice Daily Sun reports that the city’s Facade Improvement Program offers up to $375,000 in state revitalization grant funds to business and property owners. On Monday, the city council approved $189,000 for five projects.
City Administrator Tobias Tempelmeyer says the loans will be forgiven if all of the improvements are kept in place for five years. Payments aren’t due until the fifth year, meaning no owner will have to repay the money as long as they complete their projects.
Grant recipients must pay at least 25 percent of their project’s total cost.