Increases Amount for TIF Residential Redevelopment Projects
The Farmington City Council has approved both the Residential Redevelopment grants and the Façade grants for the next fiscal year, beginning May 1, 2021. The basic requirements, qualifications, and benefits are very similar to prior years. The Council also announced an increased allotment for the Residential Redevelopment grants from $50,000.00 to $75,000.00.
The Residential Redevelopment grants for properties that are in the TIF district are again limited to a benefit for the property owner of 75% of the cost of the project not to exceed $2000.00. This amount is reduced to $1000.00 for any property that received a grant in prior years. Eligible projects include, but are not limited to: window repair/replacement, siding repair/replacement, roof repair, additions of porches, steps, or ADA ramps, dead tree removal if there is a risk, and demolition of structures.
The City also approved a Residential Redevelopment program for those properties not in the TIF. These requirements and limitations are identical to those of the TIF grant, with $25,000.00 available under this program for the coming fiscal year. Complete applications and program requirements for Residential Redevelopment projects are available on the City’s website. There are links to download either application at the bottom of this page.
Façade grants for the coming year were also approved for businesses in the Downtown Historic District with identical requirements and benefits from prior years. The total amount available this year is $30,000.00. Many businesses have taken advantage of this grant over the last six years that has resulted in many comments and compliments from visitors passing through as well as former residents returning for a visit. Thanks to all who have participated! These Façade grant applications are also available at the bottom of this page.
The Council also encourages other businesses in Farmington to explore the benefits available through the use of TIF funds depending on the specific needs of the business. These qualifications and benefits will be determined on a case-by-case basis. Please visit the City Building for these types of requests.