Township of Norwich
Façade Improvement Loan Program
The Township of Norwich Façade Improvement Program has been initiated to assist in the improvement and promotion of the core business areas of Otterville and Norwich.
Commercial properties in the core business areas of Otterville and Norwich (as defined in the Township Community Improvement Plan) are eligible for the program. Eligible improvements consist of exterior street front renovations including entrances and display windows as part of a larger restoration program, the repair and re-pointing of façade masonry and brickwork, façade painting and cleaning treatments, and other similar repairs/improvements. Interior work and roof work is not eligible.
Applications may be submitted by registered owners of properties in the defined areas, or tenants of such properties. Where tenants make the application, acknowledgement and agreement of the registered owner(s) will be required.
The program will provide loans of up to $5,000 per property, based on 50/50 matching contributions. The loan will be interest free based on a maximum 10-year loan term, and repayment will commence in year 3 after the loan is provided. Payment of loans will be forwarded after the approved work is completed. The repayment schedule will be set up that at a minimum $625 of the loan amount is payable annually on tax due dates. Early payment of outstanding amounts will be permitted.
As security, the Township will hold a lien on the lands. The Township also requires
that the improvement be maintained as approved and constructed for the 10 year loan period. Should the business/property be sold, or the business cease during the 10 year term, all remaining loan amounts become due and payable, or may be transferred to the new owner with approval.
Grant applications will be reviewed and selected as they are received. Funds are limited and will be allocated at Council’s sole discretion. Note that property taxes must be up to date to be eligible.
For full details, please see the Façade Improvement Program Guidelines. Copies are also available at the Township office