 COMMERCIAL
REHABILITATION PROGRAM
• Program
Application
• Click
Here to See Photos Of Previous Projects
The
City of Lawndale is offering through its innovative Commercial
Rehabilitation Program (CRP), financial assistance to property
owners for the renovation of commercial buildings, commercial
structures, and facades surrounding mobile home parks (“Qualified
Property”) within the Lawndale Redevelopment Agency
Project Area.
Eligible
exterior improvements for commercial buildings and structures
may include exterior refinishing, new signage and building
façade reconfiguration. Assistance may be provided
for landscaping only if it is secondary to and in conjunction
with building rehabilitation to be completed under the Program.
Program assistance can also be used to correct front facing
exterior building and health code violations, seismic upgrades,
and American with Disabilities Act (ADA) compliance requirements
as identified by the City.
Eligible
exterior improvements for mobile home parks may include,
but not limited to the following improvements: landscaping,
irrigation, block walls, security fences and gates, signs,
or any other improvements deemed appropriate and necessary
by the Review Committee.
The
program provides forgivable zero interest loans, matching
equity loans, and deferred zero interest loans.
COMMERCIAL
REHABILIATION FORGIVABLE LOAN
Forgivable loans shall be provided in the amount not to
exceed $500 per lineal foot of parcel frontage as measured
along the street side of the Qualified Property’s
façade or $25,000 per parcel, whichever provides
the greater benefit to the applicant.
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 EQUITY LOAN
Matching Equity loans are available to qualified applicants
where the City provides one dollar in matching equity loan
funds for every one dollar of personal funds that the applicant
contributes toward the rehabilitation of the Qualified Property.
In the event the property owner does not have personal funds
to contribute towards the rehabilitation, the applicant
can borrow such funds through the deferred loan portion
of the program. The maximum amount of the matching equity
loan is $15,000 per parcel or tenant space, whichever provides
the greater benefit.
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
two years from the filing date of the notice of completion.
A proportional amount of the principle (at the rate of
50% per annum) is forgiven each year of ownership for
a period of two years.
b)
Lien- The City will file a lien
(Deed of Trust) against the property to secure the
loan.
COMMERCIAL
REHABILITATION DEFERRED LOAN
Deferred loans at zero percent interest are also available
to property owners up to $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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