The Downtown Economic Development Program in Decorah offers grants to encourage economic growth, aesthetic improvement, and residential density in the downtown area through targeted financial support for exterior building renovations and upper-story residential conversions. This program aims to preserve historic character, enhance streetscapes, and foster downtown vibrancy.

Program Details
Exterior Renovation and Repair Grants:

Grant Cap: Up to $10,000 per project.
Eligible Projects: Facade enhancements, structural repairs, accessibility upgrades, and awning installations.
Match Requirement: A 3:1 applicant match, where the city reimburses $1 for every $3 spent by the applicant.
Interior Renovation Grants for Upper-Story Residential Conversions:

Grant Cap: Up to $25,000 per project.
Eligible Projects: Conversion of upper-story spaces into residential units, major renovations, safety and code compliance, and energy efficiency improvements.
Match Requirement: Similar 3:1 match, with the city reimbursing $1 for every $3 invested by the applicant.
Eligibility
Applicants must be located within Downtown Decorah, either as property owners or long-term leaseholders (with at least five years remaining on the lease). All projects must align with city design guidelines and comply with local building codes and preservation requirements.

Application Process
Interested applicants are encouraged to schedule a pre-application consultation with city staff to confirm project eligibility. A complete application includes a detailed proposal with a budget, design plans, timeline, and proof of matching funds. Applications undergo review by a committee and, if recommended, are forwarded to the Decorah City Council for final approval.

Project Implementation and Funding
Projects must begin within six months of approval and be completed within 18 months. Up to 50% of the grant may be reimbursed mid-project if 50% of the work is documented.
Final reimbursement occurs after a successful site inspection.
Grant recipients must maintain the funded improvements for five years, with any significant changes possibly requiring grant repayment.
Funding and Outcomes
Funded by city council-approved budgets, state grants, and private donations, this program supports downtown revitalization efforts through a collaborative approach, requiring investment from both the city and property owners. By enhancing downtown Decorah, the program seeks to stimulate economic development and attract both residents and visitors.