There is money available for projects but it can be from a variety of sources and can take a variety of forms. Some incentives are targeted to specific work like “green” construction or historic preservation. Some forms are low interest loans, rebates, or tax credits. Finding the right source, or combination, of incentives and make a project work.
- Small Business Development
- Historic Preservation Tax Credits
- Tax Moratorium
- Code Alleviation
- Facade improvement and other local loans
- State incentives
Small Business Development
Often a development/redevelopment project is associated with a small business – new or existing. For a small business to take that next leap Louisville Metro has a variety of resources to assist. Information on these resources can be found here.
Historic Preservation Tax Credits
There are incentives in the form of Tax Credits available for the investment in historic properties both at the State and Federal levels. Information on these programs, as well as staff contacts can be found here.
Louisville Metro offers two Tax Moratorium programs wherein local taxes are “put on hold” for a period of time to allow for a new investment in a building to reap some return. Information on these two programs can be found here.
The Office of Advanced Planning administers two programs related to the redevelopment of “brownfield” sites. Information on these programs can be found here.
Questions regarding Property Maintenance liens may be directed to the Office of Management and Budget, Accounts Receivable Division at (502) 574-3430. For third party liens, you will need to contact those entities directly for resolution. It is highly recommended you do this research prior to purchasing the property.
Facade improvements and other local loans
Louisville Metro Economic Development has a wide variety of loan programs available for qualified applicants. More information here.
Louisville Metro Office of Sustainability has assembled a strong portfolio of incentive style programs for a variety of projects related to sustainability including green roofs, cool roofs, tree rebates, etc. Information on these programs can be found here.
Louisville Metro Office of Housing offers a variety of programs of local and federal funding for the creation of quality, affordable housing units across the community. Affordable housing developers can find funding through Louisville CARES and the Affordable Housing Trust Fund.
The state also offers a wide variety of incentive programs administered by the Kentucky Economic Development Finance Authority (KEDFA). Information on these programs can be found here. Louisville Metro Economic Development staff can also be an invaluable resource in working with these programs as well.