Grants & Financial Resources
Economic Development Incentive Policy
In 2020, the Town approved an economic development incentive policy focused on stimulating capital investment and job growth in the Town of Frederick.
- Family-friendly Entertainment
- Conventional or Clean Energy
- Research and Development
- Computer System & Software Product Support
- Net new taxable investment of at least $250,000.
- Either five new full-time employees or a 10% increase in the workforce (average wages for new jobs must be equal to or greater than the average county wage).
- Businesses must provide at least 50% of employee healthcare coverage.
- Must be in good standing with all applicable regulatory agencies.
According to a tiered system, projects meeting the program requirements may be awarded incentives ranging from 25% to 100%. Incentive may be applied to the following items:
- Building Permit Fees
- Plan Review Fee
- Electrical Fee
- Transportation Impact Fee
- Sales Tax - 2.0%
- Construction Meter Fee
- Frederick Capital Improvement Fee
- Tap Installation Fee
Facade Improvement Revolving Loan Fund
The Town of Frederick, Colorado, recognizing the need to improve the downtown, has a Facade Improvement Revolving Loan/Grant Program Fund. The Town recognizes the value and needs to create this program to complement other downtown initiatives to better the community. In concert with the Town Board's vision, the Town staff has accepted the challenge of creating a user-friendly revolving loan/grant program.
The maximum loan given through this program is up to $10,000 for a facade renovation project. This is a 0% interest loan.
The Town of Frederick administers the Revolving Loan Fund program and can also offer facade design assistance if desired.
In downtown Frederick, the revolving loan fund is restricted to the following district boundary: Starting at WCR 16 and Main Street, travel south to 8th Street then east to Maple, North to 5th Street, then East to the furthest point of Downtown Zoning, then north to 4th Street, then westbound to Maple, North to WCR 16 and back to the point of beginning.
- $10,000 maximum loan
- 0% Interest
- Repayment required within three years
- Personal Guarantee/Promissory Note required as security
- Properties must be structurally sound, roof intact, and meet the basic public safety and construction codes.
- Proposed facade improvements must also comply with all applicable building and zoning codes.
Eligible Facade Improvement Activities
Funds may be used only for exterior repairs and improvements. Fronts, sides, and rears of buildings are all eligible, but priorities will be given to fronts or other portions of buildings directly exposed to a street. Appropriate work includes the following:
- Window/door repair or appropriate replacement work.
- Storefront rehabilitation, including removal of non-original siding.
- Repair of non-original materials which cannot be removed due to deterioration of the underlying original building material.
- Sandblasting, cleaning, or painting of exterior surfaces.
- Repair or restoration of architectural detailing.
- Awnings, signs, and cornices.
- Other labor and materials used to rehabilitate the facade.
Owners, tenants, or owner/tenant joint ventures may submit applications under this program. Tenants must submit written approval of the property owner, evidence of their leasehold interest, and must comply with requirements and standards as deemed necessary by the Town of Frederick and the Revolving Loan Committee.
Building owners with multiple tenants may submit applications under this program. The award amount for multiple tenant buildings is limited to the equivalent of ground-floor tenants with either an entry or windows within the facade. The amount of loan for a building owner with multiple tenants is $10,000 per tenant, with a maximum of $30,000 should the building exceed three tenants.
Applications are reviewed on a first-come, first-served basis. The project is administered through the Town and approved through the Town's Revolving Loan Committee upon a positive letter of reference from a financial institution and other letters upon request. Funds must be used for exterior facade rehabilitation within the designated target area(s). All properties must conform to the governing municipality's zoning ordinance. Since funding sources are limited, priority will be given to projects demonstrating the most substantial impact on a building and neighborhood aesthetics. Work must begin within three months of approval and be complete within one (1) year. The RLF is a reimbursement program. The work must be done and inspected by a representative of the Revolving Loan Committee and by the Town Building Official before payment. The business will submit complete project invoices, and the loan will be issued within five business days. The amount of the award will be based on the final itemized estimate. Owners, tenants, or owner/tenant joint ventures may submit applications under this program. The tenant must have written approval of the property owner before approval of the application.
State & County Incentives
The Colorado Legislature created the Colorado Enterprise Zone (EZ) to promote a business-friendly environment in economically distressed areas by offering state income tax credits that incentivize businesses to locate and develop in-and no-profit organizations to assist with the needs of- these communities. View the Colorado Enterprise Zone map.
This office offers a wide range of services to assist companies starting, expanding, or relocating in Colorado. The mission of OEDIT&IT is to foster a positive business climate that encourages quality economic development through financial and technical assistance.
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