City of Columbia OBO
Commercial Retention & Redevelopment Program OverviewThe City of Columbia’s Commercial Retention & Redevelopment Program aims to improve the appearance of commercial corridors throughout the city that are significantly deteriorated. Through this forgivable loan program, commercial property owners and/or business tenants are able to make improvements to the front and other exterior portions of commercial buildings that can be seen from the public right-of-way.
Combination of a Matching-Forgivable Loan CRR Project (Exterior Improvements) & Forgivable Commercial Loan Project (Interior Improvements)
Commercial Retention & Redevelopment Program 2023-24
Program Launch: September 26, 2023
CRR 2023-24 Program Materials
Eligible Exterior Improvements:
Parking Lot Repair – Cut, patch, sealcoat, re-stripe
Eligible Interior Improvements Walls – Paint or other repair Ceilings – Pain or other repair/replacement Floors – Repair/replacementCabinets or similar built-in fixtures – paint/repairLighting
ADA Accessibility Improvement – ramp, grab bar
(The number of eligible improvements may be altered for different target areas depending on most observed need and available budget.)
Commercial Retention & Redevelopment Loan (Forgivable)
* Property and/or Business Operators fronting the commercial corridor in the target area.
* For improvements to the interior and exterior of the building and premise.
* A 10% match is required for participation; in-kind match is permitted. The waiver of the match requirement will be reviewed on a case-by-case basis.
* Any business with 51% or more revenue from alcohol sales are subject to review by the City of Columbia Economic Development Committee to determine eligibility.
* Any cost above the City’s maximum allowable per site, reverts to Applicant.
* Proper maintenance of the improvements will be monitored for a period of two (2) years.
* If not maintained as installed during the monitoring period, participant will be considered in Default and funds re-paid (pro-rated).
* This program may use federal funds and contractors would be required to follow all federal regulations.
Previous Facade Improvement Program Target Area Summary Reports
Business Improvement District (BID)
Main/North Main Corridor
Two Notch Road Phases I & II
If you have questions that were not answered here, contact the City of Columbia’s Office of Business Opportunities, 1401 Main Street, 4th Floor, Columbia, SC 29201 or by phone at (803)545-3950.
Read More Here: Commercial Retention & Redevelopment (CRR) Program