City to participate in Downtown Loan Program

GLENWOOD CITY — The city council is moving ahead to participate in a Regional Business Fund project called the “Downtown Façade Loan Program.”

The Downtown Façade Loan Program provides financial assistance to encourage property and business owners in core downtowns to revitalize downtown commercial buildings within the towns, cities and villages of West Central Wisconsin.

Mayor John Larson spoke of the project at the City Council’s monthly meeting on October 1st, informing the council about the program. The mayor had received a letter from the Regional Business Fund recently, which informed the mayor about the program. The letter stated, “Glenwood City is eligible for this program because it is in St. Croix County.”

However, the city must take three steps to begin the application process. They include adopting a map that defines Glenwood City’s core downtown area. A Loan Committee must be established that will review all Downtown Loan Program applications.” The mayor suggested to the council that the City’s Planning Commission could serve as this committee.

The final step is that the city must adopt design guidelines for all future projects. But Mayor Larson pointed out to the council that property owners in the area need not follow those guidelines for remodeling projects. The council agreed to move ahead with the program and hopefully a final draft of the guidelines will be ready for the November council meeting.

The loan program provides interest free loans of up to $30,000 for downtown projects.