One town in Boulder County on many investors’ radars is Longmont. Last year it was ranked the #1 Boom Town by SmartAsset.com. It has seen a surge of interest from businesses as the town gains popularity and the local authorities offer increased incentives.

The Longmont Downtown Development Authority (LDDA) is offering a multitude of incentives to businesses and property owners in downtown Longmont. The LDDA offers various grants in order to help individuals and businesses improve and maintain the historic buildings of Longmont. Take a look at the different grants available in Longmont!

COVID-19 Safe Re-opening Business Grant

The Longmont Downtown Development Authority (LDDA) Board is offering Safe Re-opening Business Grants to locally-owned and operated businesses located within the LDDA boundaries. Our goal is to provide near-term financial relief for locally owned storefront businesses most impacted by COVID-19, with the priority for businesses that have frequent and/or close contact with customers.

Sign Grant

This grant is designed for permanent sign projects for downtown buildings and properties. The signs must follow Downtown Sign Design Standards and City Sign Code. The maximum grant is 25% of total sign costs with a cap of $3,500, contingent on available funds. The $3,500 limit may be exceeded for marquee type signs associated with theaters, cinemas or performing arts facilities, subject to LDDA Board approval.

Retail Conversion Grant

This grant reimburses retail storefront businesses for converting and upgrading previously non-retail properties in the LDDA District to encourage additional retail development. Destination retail, craft, and culinary space businesses generating significant foot traffic are preferred. The program will provide a grant up to 25% of eligible project costs (not to exceed $22,500), from the LDDA and the Longmont Economic Development Partnership (LEDP) for qualifying improvements to qualified applicants. The total combined grant amount may not exceed 50% of total project cost.

Façade Renovation Grant (DIP)

This grant reimburses applicants for projects to renovate a building’s façade. The maximum grant is 25% of the total façade costs of the project, not to exceed $10,000. Funds may be used for façade restoration/renovation projects that would require a significant change to the façade of the building.

Residential Grant

This grant is designed for façade and internal code renovation (upper story only) to residential housing to enhance the value of the building or property. The maximum grant is 25% of total costs with various caps depending on the housing type. The cap limit may be lifted for projects that fulfill the LDDA’s Downtown vision.

Façade Improvement Program (FIP)

The Facade Improvement Program helps facilitate larger scale catalyst redevelopment projects in the downtown area through the use of tax increment investments. Applications are evaluated by the LDDA Board using an evaluation scoring system. Funding of eligible improvements will be based on a project’s score and available funds. Funding is available to property and business owners through this program for eligible building façade and public improvements. The City of Longmont provides staff assistance to the LDDA to administer the FIP.

These grants provide many opportunities for both investors and property owners in Downtown Longmont. Looking to take advantage of these incentives? We have the perfect property available that is eligible for many of these grants. Give us a call if you’re interested!