Tioga County announces countywide business assistance
Tioga County was recently awarded $250,000 from the Southern Tier Region Economic Development Corporation (STREDC) for a countywide business assistance program. The program provides 50 percent of total project cost with a 0 percent loan to assist in the prevention and elimination of slums and blight and encourages the revitalization of commercial buildings in Tioga County's commercial "Main Street" centers.
Eligible use of proceeds includes exterior facade renovations on design elements that are a structural part of eligible commercial buildings such as doors, windows, exterior refinishing and repairs, removal of non-original facades and rehabilitation of original facades, signage, awnings, attached lighting, decks and back façade along the river.
There is a non-refundable application fee of $100, and a commitment fee of 1 percent of the approved loan amount. The amount of financing available is $2,500 to $10,000, at a 0 percent fixed interest rate. Loan terms are up to five years with $2,500 to $5,000 loans having a two year term, $5,000 to $7,000 having a three year term, and $7,000 to $10,000 offering five year terms.
To learn more, contact Teresa Saraceno, Tioga County Economic Development at (607) 687-8260.