ANSONIA ECONOMIC DEVELOPMENT COMMISSION

Storefront Improvement Loan Program The Storefront Improvement Loan Program is a city-funded and administered program which offers up to $2,000.00 in zero interest loans to assist Ansonia business owners in making improvements to the facades of their storefronts. GUIDELINES All projects must be approved by the Economic Development Commission, subject to established guidelines. PURPOSE The purpose of the Storefront Improvement Program is to: Reverse the deterioration of commercial structures Enhance efforts to market vacant space and attract new businesses Stimulate private investment and economic growth Create an aesthetically pleasing environment in Ansonia business districts Bring commercial buildings into compliance with the Building Code Increase the sense of safety and security Enhance Ansonias tax base PROGRAM ELIGIBILITY AND GUIDELINES ELIGIBLE PROPERTIES Applications may be submitted for commercial, retail, and/or mixed use properties, either owner or tenant occupied, located within the City of Ansonia. Applications must be endorsed by the owner of the subject property. For a property to be eligible, the applicant and/or property owner must be up-todate on all city taxes and assessments. NON ELIGIBLE PROPERTIES Properties used primarily as residences, social service agencies and churches/ places of worship are not eligible for the Storefront Improvement Loan. GUIDELINES

Examples of eligible activities: Masonry repairs and pointing Repair/replace/preserve historically significant architectural details Storefront reconstruction Cornice repair Exterior painting and stucco Awnings and canopies Window and door repair or replacement Permanent exterior signage integrated into the storefront design Permanent exterior lighting Repair/replacement of gutters and down spouts Faade building code items Visible roof repairs with structural improvements Aesthetic window displays or suitable blinds Removal of solid roll-down security gates Examples of non-eligible activities: Non-visible roofing Attached, hanging or projecting signs unrelated to the architecture of the building Mechanical equipment enclosures (non-visible) Billboards Interior renovations New construction Property acquisition Expansion of building area Conversion of use Working capital Refinancing of debt Payment of delinquent taxes LOAN TERM OF TWO YEARS The recipient of any loan pursuant to this program shall be obligated to repay said loan within 2 years of the date the loan agreement is entered into. ZERO INTEREST Loans awarded under this program will be interest free if repaid within a 2 year term from the date the loan agreement is entered into. PAYMENT OF BUILDING FEES AND PERMITS The applicant and/or property owner are responsible for the payment of all building fees and permits related to the proposed improvements.

PENALTY INTEREST Loan amounts not repaid within a 2 year term from the date of the loan agreement will be subject to penalty interest in the amount of 3% per annum. WORK TO BE COMPLETED WITHIN ONE YEAR The loan recipient will be deemed to have defaulted on any loan in the event that the proposed project is not completed within one year. If found to be in default, the balance of the loan plus penalty interest in the amount of 3% per annum will be due to the City of Ansonia immediately.

Ansonia Economic Development Commission Storefront Improvement Loan Program APPLICATION PROCEDURE STEP ONE- APPLICANT ELIGIBILITY Retail business or retail property owners located within the City of Ansonia are eligible to apply for this low interest loan. STEP TWO- COMPLETE THE APPLICATION A completed application must contain the name of the applicant, property owner, property and description of the project proposed. Incomplete applications may be declined on that basis alone. Please submit completed application to: Storefront Improvement Loan Program Carol Forcier Office of Economic Development City of Ansonia 253 Main Street Ansonia, Connecticut 06401 Upon receiving the application the Economic Development Commission will confirm site eligibility, review the scope of work and arrange for a Project Review Meeting with the applicant. Applications will be accepted on a first-come, first serve basis. Applications will be processed within 60 days of receipt. ****The deadline for applications is ____________________*** STEP THREE- PROJECT REVIEW & CONTRACT EXECUTION A Project Review meeting, conducted by the Economic Development Commission Review Team (EDCRT) is required prior to contract execution or construction. The EDCRT will review the application, discuss the merits of the project and make a recommendation to: a) fund the project; or b) re-submit the application with appropriate changes. The applicant may accept the EDCRT recommendation or withdraw his/her application.

The applicant must comply with, and is responsible for, all relevant regulatory constraints, including zoning approval, historical preservation and environmental regulations, where applicable. Completion and submission of an application does not constitute an agreement between the applicant and City of Ansonia or guarantee that the applicant will receive a loan. All loans are contingent on approval by the City of Ansonia and subject to the discretion of the City of Ansonia. All decisions on loan approvals are final. If approved, a Loan Agreement will be prepared for the signature of the applicant, the property owner and the Mayor of the City of Ansonia.

ANSONIA ECONOMIC DEVELOPMENT COMMISSION

STOREFRONT IMPROVEMENT LOAN APPLICATION NOTE: Work must not start prior to contract execution APPLICANT INFORMATION ____ Corporation____Partnership____Propreitorship____Individual Name of Applicant ______________________________________________________ Mailing Address _______________________________________________________ Contact Name: _________________________ Title: ____________ Tel: Daytime (___)____-______ext_____ alternative (___)____-______ Type of Business: __________________________________________ Days of the week and hours you are open: _______________________ PROPERTY INFORMATION Street address of the property to be improved: ________________________________________________________ Legal Description: Lot Block Tax Account #

_________________________________________________________

_____ Owned Property _____ Leased Property Is the property currently (check one) _____ Occupied _____ Vacant What is the current or proposed use of the property? ________________________________________________________________ ___ ________________________________________________________________ ___ How many full time employees does the business presently employ? ____________ Do you plan on hiring any additional employees after the proposed improvements are complete? If so, how many?

Estimated Total Project Budget: $ Total Loan Amount Requested: $

PROJECT INFORMATION Please attach a Description of your Proposed Improvement Budget, which should include the following: Estimated total cost of the project, including itemized costs for labor and materials Desired start date Project timeline or work schedule Photographs of existing faade or condition Renderings, sketch or photo, of work to be done or item to be installed Budget and supporting estimates Copy of lease and/or letter from property owner granting approval (if applicable) Color samples (if applicable) Applicant Signature _____________ Printed Name _____________________ _____________________ Date

Prop. Owner Signature _____________ Printed Name

_____________________ _____________________

Date

SAMPLE BUDGETS An Improvement Budget may be based on the examples below. Remember, the maximum loan amount for one project is $2,000.00. If your project cost is greater than the maximum amount, indicate your contribution the remainder. Example One Materials: Canopy- fabric and frame: Flat sign: Total Materials: Labor: Labor to install canopy: Estimated Total Projected Budget: Total loan requested: Example Two (below maximum amount) Materials: Window replacement Quote from window vendor attached. Estimated Total Projected Budget: $1,400.00 $300 $2,000.00 $2,000.00 $1,200.00 $500 $1,700

$1,400.00

 Total loan requested:

$1,400.00

Example Three (with applicant contribution) Materials: New Door: Flat sign: Total Materials: Labor: Labor to install door: Estimated Total Projected Budget: Applicant Contribution: Total loan requested: $300 $2,300.00 $300.00 $2,000.00 $1,800.00 $500 $1,700