 COMMERCIAL
REHABILITATION PROGRAM
• Program
Application
• Click
Here to See Photos Of Previous Projects
The
City of Lawndale The City of Lawndale is offering through
its innovative Commercial Rehabilitation Program (CRP),
financial assistance to property and /or business owners
for the renovation of buildings located in the Commercial
Rehabilitation Revitalization Zone (shown on the map located
on the back of this brochure).
The
program provides forgivable zero interest loans, matching
grants and deferred zero interest loans to commercially
zoned and developed parcels of lands. The financial assistance
provided by the City, may only be used for rehabilitation
of the exterior façade of the building.
COMMERCIAL
REHABILIATION FORGIVABLE LOAN
Forgivable loans shall be provided in the amount of $500
per lineal foot of parcel frontage as measured along the
street side of the building’s primary entry. In no
case shall a property owner be eligible for a forgivable
loan for less than $25,000 per parcel.
a)
Repayment- Repayment is due if the property
is sold, the property is refinanced
to cash out, or if the property title is transferred within
five years from the filing date
of the notice of completion. A proportional amount of
the principle (at the rate of
20% per annum) is forgiven each year of ownership for
a period of five years.
b) Lien – The City will
file a lien (Deed of Trust) against the property to secure
the loan.
COMMERCIAL
REHABILITATION MATCHING GRANT
The City may also provide a matching grant equal to the
applicant’s contribution toward the rehabilitation
of the subject property. The maximum matching grant amount
is $15,000 per parcel or tenant space. Applicants may borrow
money from the City’s loan program to cover their
portion of the project cost.
a) Repayment - Repayment is
not necessary
COMMERCIAL
REHABILITATION DEFERRED LOAN
Deferred zero percent (0%) interest rate loans will be available
to eligible property owners. The maximum loan amount cannot
exceed $25,000 per parcel.
a) Repayment- Full repayment
of the loan is due when the property is sold, property
is refinanced to cash out, or the property title is transferred.
b) Lien – The City will
file a lien (Deed of Trust) against the property to secure
the loan.
Download
a Commercial Rehabilitation Program Brochure*
Download
a Commercial Rehabilitation Program Application*
Building
Codes for the City are Changing
On
January 1, 2008 The City of Lawndale’s building codes
are changing. These changes are part of a state-wide adoption
of new codes and every city, county and local jurisdiction
in the state will be effected. If you have plans on file
with the City, are planning to file or would like more information
(click
here).
South
Bay Center for Dispute Resolution:
Having
trouble settling a
dispute? Contact the South Bay Center for Dispute Resolution,
(310) 376-7007. Click
here for more info.
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