Enterprise Zone - Eligible firms located within the boundaries of the Enterprise Zone may be eligible to receive a property tax exemption to encourage the creation of new industrial and manufacturing jobs for the community.  

Electronic Commerce Zone - Eligible firms located within the boundaries of the Enterprise Zone engaged in electronic commerce may be eligible to receive a state income tax credit against the firm’s annual State of Oregon income or corporate excise tax liability.  

Project Bonds - Project specific financing in the form of Project Bonds which may be used to finance both public infrastructure and private development costs of “urban renewal projects.”      

Community Development Block Grant (CDBG) and HOME funds received annually by the City from the U.S. Department of Housing and Urban Development (HUD) are awarded through an annual competitive application process.  Funding is provided to public and private, individuals, corporations and non-profits for use in eligible projects.

Housing Loan programs, administered by the City, offer assistance to eligible Salem and Keizer citizens in attaining safe and decent housing conditions. 

Micro Business Loan Program is designed to assist entrepreneurs and small business owners within the City of Salem to access small loans and gap financing to ensure that those businesses start, grow, remain sustainable, and succeed. Funds for the loan program are assessed from the City’s allocation of Community Development Block Grants (CDBG) program to assist persons owning or developing a microenterprise.   Application         Neighborhood Revitalization Strategy Area

Fairview Small Business Pilot Loan Program - Applications being accepted

The Small Business Loan Program was created to promote job creation and applies to soft and hard costs directly associated with capital improvements to property located in the Fairview Urban Renewal Area specifically related to the approved project. 

The loan may only be applied to capital expenditures that facilitate traded sector (manufacturing) uses.  Urban Renewal funds applied to approved capital improvements cannot be removed from the Fairview Urban Renewal Area for the duration of its useful life.   

Contact Todd Klocke at 503.588.6178

Multi-Unit Housing Tax Incentive Program - A 10-year property tax abatement for new or converted, transit-supported, non-transient housing units constructed within the core area, which provide one or more public benefits.

Special Housing Opportunity Funds - This program assists with all normal and reasonable soft and hard costs directly associated with rehabilitation and restoration, or construction, of a qualified housing project in the downtown core.  Call Sheri Wahrgren for fund availability before submitting an application.    

"Toolbox" - Downtown - This Building Rehabilitation/Restoration Program offers property and business owners the opportunity to make improvements to commercial or mixed-use buildings located in the Riverfront-Downtown Urban Renewal Area.  

Funds are available as low-interest loans and matching grants.  

Loan applications  and Grant applications are being accepted.  

Pautas de fondos otorgados en español, términos y mínimo  requisitos,  formas ahora aceptadas.

"Toolbox" - North Gateway - This program was created to encourage business and property owners to improve their store fronts and properties, and contribute to the North Gateway Urban Renewal Area’s revitalization. 

Funds are available as low-interest loans and matching grants.  Loan Applications and Grant Applications are being accepted. 

Pautas de fondos otorgados en español, términos y requisitos mínimo,  aplicaciones para otorgar fondos ahora aceptables.   

"Toolbox" - West Salem - This Building Rehabilitation/Restoration Program, offers property and business owners the opportunity to make improvements to the exterior of industrial, commercial, or mixed-use buildings located in the West Salem Urban Renewal Area.

Funds are available as matching grants.   Grant Applications are being accepted.  

For more information on Urban Renewal or Federal programs, please call staff at 503.588.6178.