Main Street gives Downtown Development Grant overview

Main Street Greencastle’s (MSG) Downtown Development Grant (DDG) is primarily designed to increase the aesthetic appeal and property values of the commercial lots within the Main Street designated area and adjacent commercial districts.

By working directly with business and property owners the DDG stimulates investment through external improvements that preserve and care for the historical aspects of buildings. The grant will be awarded on a first-come, first-serve basis and will be selected by a committee made up of members from the following organizations: Main Street Greencastle, Greencastle Redevelopment Commission and Putnam County Heritage Preservation Society.

Aligning with the City of Greencastle, Redevelopment Commission and Indiana Landmarks, improvements made to downtown facades must provide a uniform aesthetic while maintaining a historic appeal. This helps to foster a unique, artistic style that separates Greencastle from other cities.

Through the grant program, MSG creates a welcoming and cooperative environment for entrepreneurs, new businesses and business expansions. Partnering with building owners, Main Street is strengthening community and personal relationships in order to make a more vibrant downtown and city.

Concept: Provide a reimbursable grant for projects in and around the Courthouse Square Business

District as a follow-on to the Stellar Communities effort.

First round budget:

- $95,000 for grants

- $10,000 for design assistance

Proposed grant amounts:

- 75 percent reimbursable grant of the first $10,000 up to $7,500.

- 50 percent reimbursable grant over $10,000 up to $42,500 for a total grant amount of $50,000.

Proposed grant areas:

- Year 1: Downtown Greencastle Main Street program area

Design assistance: For projects that require design work items such as sign design, awning color, storefront design, etc. A $1,000 Design Assistance Grant can be added to the total grant amount.

- All design work, with or without the design assistance, is subject to the evaluation of the selection committee for approval to keep in line with the overall downtown appeal.

Fire protection: The program will encourage fire protection upgrades and initiatives.

Amendments to the 2021 Economic Development Plan provided for “Development of a Facade Improvement Program for the downtown as a follow-up to work done for the Stellar Communities Program.”

Additional documentation:

- Contract between the City of Greencastle/Redevelopment Commission and Main Street Greencastle for implementation and management of the program.

- Property Owner/Business Owner Application Form

- Grant agreement/contract with the Property/Business Owner

- Additional procurement requirements

- Grant completion form and reimbursement claim

Contact Main Street Executive Director Russell Harvey at Hello@mainstreetgc for more information or a grant application. Grant application window opens on a first-come, first-served basis starting Aug. 10.