Downtown

This program is intended to provide property owners with a resource and incentive to add, improve and / or replace signage & awnings in the downtown area.

Eligibility

• Properties must be located in downtown Hutchinson within the following boundaries: the Crow River on the north, Fourth Avenue on the south, properties with frontage on the west side of Franklin Street and the east side of Hassan Street.
• Funds can be used only for the repair, improvement, addition, or replacement of signs and/or awnings.
• Only one grant per business will be awarded during an 8 year period.

Requirements

• Businesses who lease space must  submit an application that has been completed by them AND the property owner.
• Work cannot commence until the grant has been approved, and should be completed within 120 days, weather permitting.

Rates/Terms

• Grants range from $500 to $2,000.
• Improvements must be completed before any grant funds can be disbursed.

Downtown Sign & Awning Program Application (PDF)

Contact
For additional information or an application, contact the Hutchinson Economic Development Authority at 320.234.5652, or email us.

The Façade Improvement Program is a dollar-for-dollar matching grant for property owners in the historic downtown area so they can make exterior improvements and generally improve the “curb appeal” of their property.

Eligibility

• Properties must be located in downtown Hutchinson within the following boundaries: the Crow River on the north, Fourth Avenue on the south, properties with frontage on the west side of Franklin Street and the east side of Hassan Street.
• Applicants must provide a personal dollar-for-dollar match for the grant amount awarded.
• Only one grant per building will be awarded during any given 5-year period.
• Additions, new buildings, decks and playground equipment are not eligible.
• Eligible improvements must be viewable from the public right-of-way and may include windows & doors, painting & other façade improvements, exterior lighting and landscaping.

Requirements

• Any improvements must be completed and inspected prior the disbursement of any grant funds.
• Work cannot commence until the grant is approved by the EDA Board of Directors and should be completed within 120 days, weather permitting.
• Invoices must be submitted in order to receive reimbursement.

Rates/Terms

• Matching grants range from $500 to $7,500.

Download the Downtown Façade Improvement Program Application (PDF)

Contact
For additional information or an application, contact the Hutchinson Economic Development Authority at 320.234.5652, or email us.

The Downtown Commercial Rehabilitation Loan Program is intended to provide an additional financial resource and incentive for downtown property owners to improve their place of business. The goal of the program is to help keep downtown Hutchinson a thriving and attractive place for commercial & retail activity.

Eligibility

• Properties must be located in downtown Hutchinson within the following boundaries: the Crow River on the north, Fourth Avenue on the south, properties with frontage on the west side of Franklin Street and the east side of Hassan Street.
• Total debt (including this loan) secured by the property cannot surpass 100% of the assessor’s estimated market value, or the appraised value of the property, whichever is greater.
• Eligible exterior improvements include windows & doors, painting & other façade improvements, roofs, foundations, lighting, accessibility improvements, parking lots and landscaping.
• Eligible interior improvements include general remodeling, HVAC, electrical, plumbing and handicap accessibility.
• Funds cannot be used for security systems, equipment or furniture.

Requirements

• No more than 30% of the loan can be used for interior improvements other than heating, electrical, plumbing, insulation, handicap accessibility and asbestos abatement.
• Loans are immediately due if the property is sold or otherwise transferred.
• All owners must join in the application.
• All loans must be secured by a mortgage on the property.
• A personal guarantee is also required.
• There is a $200 application fee.

Rates/Terms

• The minimum loan amount is $5,000.
• The maximum amount available is $60,000 although larger amounts will be considered.
• Interest rates are fixed.

Two options are available for interest rates and loan terms:

• For loans less than $10,000, the term is 7 years at the current prime rate.
• For loans $10,000 or greater, the term is 10 years at the current prime rate.

Download the Downtown Commercial Rehabilitation Loan Application (PDF)

Contact
For additional information or an application, contact the Hutchinson Economic Development Authority at 320.234.5652, or email us.