The Great Bend downtown loft program is now open, said Sara Hayden, president of Great Bend Development Inc., the entity spearheading the project.
With applications now being sought, Hayden said she will hold a question-and-answer session at 4 p.m. Thursday, Aug. 26, at the Great Bend Events Center Santa Fe Trail conference room.
“Great Bend Economic Development, with support from the city, is thrilled to be able to offer this grant program to help enhance our downtown corridor and bring more opportunities for business and housing to the community,” Hayden said. “This program allows us the chance to get a lot of work done in a short period of time, making Great Bend stand out as a community that is ready for change and growth, and as a community that takes pride in our future.”
The City Council in July approved spending half of the city’s $2,271,654.71 in American Rescue Plan Act funds for a downtown rehabilitation project to assist in sprinkler system installation and other improvements to downtown lofts. This allowed up to $1 million with half coming from each of the city’s two ARPA payments.
Grants to successful applicants would come from these funds.
But, “this program can’t and won’t be a success without our downtown property owners diving in and taking a chance, so we are extremely thankful for their willingness to make it happen,” Hayden said.
The applications for the Great Bend downtown loft program are available on the Great Bend Economic Development Inc.’s website, gbedinc.org. Or, one can contact GBED President Sara Hayden at director@gbedinc.com or 620-796-2407.
She said the purpose of the incentive program is to stimulate capital investment in the downtown core area to address housing shortages and the need for more downtown commercial space. It will also, create a recurring revenue to the city through valuation increase caused by the new capital investment.
Eligibility
Buildings eligible for grants are those multi-level buildings in an area bordered by Williams Street on the west and Kansas Street on the east from 10th street to 19th street. The area shall include multi-level buildings on either side of streets included.
The grants will cover fire protection necessitated by city codes. Costs eligible for the grant wi be the cost of labor and materials to connect the City’s main water line to the buildings and the cost of sprinkler system and fire alarm installation.
Other construction costs that will enable the intended purpose will be eligible.
Half of the grant will be funded upon the completion of sprinkler installation and necessary approvals by city officials. The final 50% of the grant shall be funded upon the substantial completion of the project and necessary approvals.
All funds must be expended by Dec. 31, 2024, extensions can be made if delays are due to supply chain or other extenuating circumstances.
Property owners with an eligible buildings in the downtown corridor will be eligible to receive grant funding in the amount of up to $5.50 per square foot. To receive funding, they must submit all required documentation, and funds will be distributed on the first of each month.
Not all eligible properties are guaranteed a grant and the grants, Hayden said. The grants will be awarded on a first-come-first-served basis.
If continuous construction has not begun within 90 days of award approval, the grant may be withdrawn after written notice to the applicant, she said. The applicant may apply for extension should the project be experiencing delays as listed above.
Substantial changes in the project should be reported for documentation purposes.
Existing lofts are not eligible for this project.
