The Downtown Moberly Community Improvement District (Depot District) awarded funds for projects through the Private Property Improvement (PPI) Grant Program during their monthly meeting. A number of property owners applied and received funding through the CID’s new grant program.
Properties at 110 North Clark, 209 North Clark, 535 Reed and 537 Reed received $15,560 total in funding. Property owners receiving grants must also make an investment in these properties. Estimated total investment in property improvements will be $44,032 when projects are completed. Grant opportunities do not exceed $5000. Additional funding for PPI grants is still available and private property owners are encouraged to apply.
Other economic development incentive programs are also available thru the CID. A Rent Buy Down Program has been developed to subsidize private rental rates in downtown buildings to encourage new or expanded leasing. A Sales Tax Rebate Program was established to encourage new private investment by making incremental increases in CID tax available to developers. A Property Tax Rebate Program incentivizes private investment in Downtown properties by rebating CID property taxes to defray redevelopment costs. Lastly a Pitch Pool Program provides gap financing for small businesses to promote entrepreneurship in Downtown Moberly.
Further information on the CID programs can be found at www.moberlydepotdistrict.com