The Riverfront Downtown Urban Renewal Area Capital Improvement Grant Program was created to support property owners in improving their properties. This program provides funding options that encourage creative and flexible approaches to enhance the Riverfront Downtown area. By offering financial assistance, the program aims to stimulate growth, improve infrastructure, and support the community’s vision for a vibrant and thriving urban space.

Why This Program Matters

Riverfront Downtown Urban Renewal Area Capital Improvement Grant Application

Riverfront Downtown Urban Renewal Area Capital Improvement Grant Application is the first step for property owners to access funding through this program. Applicants must ensure their projects meet the program’s requirements and objectives before submitting their applications.

Application Requirements

To qualify for a grant, projects must meet at least one of the following objectives outlined in the Strategic Action Plan: 

• New construction
• Mixed-use development, including housing
• Alley improvements
• Historic preservation requiring Historic Landmarks Review
• Business expansion, retention, or recruitment that creates new jobs
• Upper-floor renovations to make unused spaces tenant-ready
• Exterior beautification projects

Important Notes:

• Grant funding is subject to availability.
• Costs incurred before grant approval are not eligible for funding.
• Additional terms may apply, and program details are subject to change.

Grant Types and Funding Details

Grant Type                                      Total Project Cost                           Grant Amount
Small Project Grant                       $10,000 – $100,000                       50% of eligible costs
Large Project Grant                       $100,001 – $300,000                     $50,000 + 25% of eligible costs over $100,000
                                                          $300,001 – $600,000                     $100,000 + 20% of eligible costs over $300,000
                                                          $600,001 and above                       $160,000 + 15% of eligible costs over $600,000

Maximum Grant Amount        N/A                                             $300,000

 Eligibility Criteria

To qualify for the program, applicants must meet the following requirements:

• Be the property owner with proof of ownership.
• The property must be located within the Riverfront Downtown Urban Renewal Area.
• Tax-exempt properties and properties that are entirely residential are not eligible.

Examples of Eligible Activities 

Eligible activities include, but are not limited to:

• Plumbing
• Storefront improvements
• Fire sprinkler systems
• Electrical upgrades
• Elevators
• Alley improvements
• Seismic upgrades
• Skylights
• Windows

Note: Roof work is not grant eligible for grant funding.

Subcontractor Transparency

Transparency documentation identifying each contractor, subcontractor, and all sole proprietors performing work on the projects that have received either Multi Unit Housing Tax Incentive Programs or Urban Renewal Area  grants with a grant exception must be filed with the City at the time building permits are obtained. The Subcontractor Transparency Form must be displayed at the job site and kept up-to-date until the completion of the project.

Subcontractor Transparency Form 

Additional Resources 

For more information about related programs and grants, explore the following: 

• Multi Unit Housing Tax Incentive Program
• Fairview Urban Renewal Area Grant Program
• North Gateway Rehabilitation Grant Program
• West Salem Redevelopment Grant Program
• Riverfront Downtown Urban Renewal Area Strategic Project Grant Program

Contact Information

For questions or additional details, please contact the Urban Renewal Agency or visit the Riverfront Downtown Urban Renewal Area website.

This program is a valuable resource for property owners looking to invest in their properties while contributing to the growth and revitalization of the Riverfront Downtown area.