Laserfiche WebLink
t ' <br /> RESIDENTIAL RESTORATION <br /> INCENTIVE PROGRAM <br /> OVERVIEW <br /> The Residential Restoration Incentive Program (RRIP) is a grant program which provides <br /> financial assistance for permanent building and site improvements on parcels located within the <br /> Near West Neighborhood. All work must be permanently fixed to the real estate. Examples of <br /> permanent improvements include: life safety and accessibility code requirements; <br /> repair/replacement of roof, floors, structural or partitioned walls or windows; repair/replacement <br /> of electrical, plumbing heating or cooling system; energy saving efforts; and installation of an <br /> elevator, sprinkler, and fire or smoke alarm system. Tenant finish work (improvements <br /> specifically related to the use of the building) is not eligible. Professional fees are eligible. <br /> The Olde Towne Tax Increment Financing District revenues fund this program. This manual <br /> sets forth the guidelines for such major improvements. <br /> PROGRAM OBJECTIVES <br /> The intent of RRIP is to promote the continued revitalization of the Near West Neighborhood. <br /> The physical condition, economic vitality, and architectural quality of these areas will be <br /> enhanced by eliminating any violations of the property maintenance codes and restoring the <br /> unique character of a unique neighborhood. <br /> All RRIP projects must meet the minimum requirements as outlined in this program. RRIP <br /> assistance is contingent on a series of project review criteria. The more project review criteria <br /> the project meets, the higher the level of assistance. The City grant is between 5-40% of all <br /> permanent improvements and the combined total of all RRIP incentive money cannot exceed <br /> $30,000 per building over a five-year period. <br /> The City Manager is authorized to approve grants and grant amendments up to $30,000. The <br /> City Manager is authorized to approve up to a 6-month extension of a project deadline for all <br /> grants without additional council approval. <br /> Please contact the City of Decatur's Development Services at (217) 424-2725 for more <br /> information on the Residential Restoration Incentive Program. <br /> 2 � Page <br />