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BMDD Announces Building Improvement Incentive Program

The Brownwood Municipal Development District (BMDD) recently announced the launch of its Building Improvement Incentive Program.

The purpose of the Building Improvement Incentive Program is to provide an incentive to business and/or property owners to encourage renovation and rehabilitation of commercial buildings in the City of Brownwood. Funding for the program is provided by the Brownwood Municipal Development District (BMDD). This program aims to improve the aesthetics within the City of Brownwood as attractive and updated commercial buildings positively impact the marketability and perception of the city.

The Building Improvement Program consists of a one-dollar to one-dollar match of up to $20,000 for approved improvements. Incentives will be awarded for commercial building improvements that restore, rehabilitate, enhance or beautify a structure.  The program does not include residential housing of any kind whether owned or rented.

The program will be administered by the Brownwood BMDD. An application form is to be submitted with a description of the work to be completed. Applications will be reviewed by the BMDD Board of Directors.  Funding of projects is totally at the discretion of the BMDD Board of Directors.

PROGRAM GOALS:

  • Revitalize and improve the appearance of Brownwood commercial buildings to positively impact the aesthetics, marketability, and perception of the City of Brownwood while revitalizing downtown and major thoroughfares.  
  • Serve as a catalyst for continued private sector investment through visible improvements 
  • Offer the private sector an incentive program to invest in Brownwood commercial buildings

Property owners and tenant/business owners of properties located within the City of Brownwood are eligible to participate in the program. Business owners/tenants must have been at the location for at least six months or submit a written Business Plan and have the property owner’s express consent for the proposed improvements. To participate in the Program, Applicants must complete and submit the Program application form provided by the BMDD along with the required attachments. Retroactive applications for improvement work that has already been completed will not be accepted. Property taxes must be current, and participants must represent that to the best of their knowledge they have no debts in arrears to the City when a commitment letter is issued. Further, the Applicant must certify that there are no current code enforcement actions pending against the property that would not be mitigated by the project.

Funding is limited and incentive awards will be subject to funding availability; Project Applicants will be prioritized on a rst-come, rst-serve basis. A commitment letter allocating the project funds for a particular approved project will be issued and a commitment period established so that if funds are not used within that period, program funds can be reallocated for other eligible projects.

To apply, visit: brownwoodbusiness.com/BIIP

 

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