- Home
- Departments
- Development
- Incentives & Financing
Incentives & Financing
Community Reinvestment Area
The Community Reinvestment Area (CRA) Program is an economic development tool administered by the Development Department that provides real property tax exemptions for property owners who renovate existing or construct new buildings. CRAs are areas of land in which property owners can receive tax incentives for investing in real property improvements. To be eligible, an application must be submitted for review and acceptance before construction commences.
CRA-Residential
The Community Reinvestment Area residential program is intended to encourage housing maintenance and community development in designated areas of the city. The program abates 100% of property taxes owed due to an increase in the property valuation generated by a significant investment in the dwelling improvement(s) at that location. To be eligible, an application must be submitted for review and acceptance before construction commences.
CRA-Commercial/Industrial
The Community Reinvestment Area commercial/industrial program is intended to encourage economic development in certain designated areas of the city. The program abates 100% of property taxes owed due to an increase in the property valuation generated by a significant investment in the improvement(s) at that location. To be eligible, an application must be submitted for review and acceptance prior to construction commencing.
Business Development Revolving Loan Fund
The Business Development RLF program is intended to support small business investment and growth in the Piqua Community. The program provides financing to industrial and commercial businesses to assist with projects that advance the continued growth and prosperity of the community.
Terms:
- Have 50 or fewer employees
- Less than $1 million in annual gross revenue
- Max loan $60,000
- Create or retain 1 job per $15,000 of funding
Eligible Uses:
- Land/Building Acquisition
- Construction & Renovation
- Machinery & Equipment
- Working Capital
- Inventory
Resources
Economic Development Revolving Loan Fund
The Economic Development Revolving Loan Fund (ED RLF) program is intended to spur and support economic development activities within the City of Piqua. Financial assistance is available for new or expanding businesses and/or property owners that will positively affect the economic and employment climates in the City.
Eligibility Requirements:
- Business/property located in the City of Piqua
- ED RLF being used as gap financing (private financing should be secured prior to submitting the application)
- Ability to secure ownership of the real estate or a two year lease agreement in which the project is located.
Eligible Uses:
- Fixed Assets: construction/renovation
- Non-Fixed Assets: depreciable equipment
- Pre-Development: architectural drawings, surveys, market studies, and environmental due diligence, etc.
Resources
Micro-Enterprise Revolving Loan Fund
The Micro-Enterprise Revolving Loan Fund will be available for low-interest, fixed asset, gap financing for-profit businesses or publicly owned infrastructure improvements directly related to job creation or retention by a for-profit business in the City of Piqua. The program is targeted to new and existing small businesses with five or less employees, with the goal to create and/or retain jobs for low-moderate income individuals.
Eligibility Requirements:
- Low-moderate income job creation/retention
- For-profit business located in the City of Piqua
- Demonstrate prior business experience or participate in small business development training prior to award.
Eligible Uses:
- Land/Building Acquisition
- Construction & Renovation
- Machinery & Equipment
- Working Capital
- Inventory