Building owners in downtown Chanute who want to renovate historic structures or expand their businesses have access to a variety of loan and grant programs from multiple state and local agencies.
The city government, Main Street Chanute and Chanute Regional Development Authority are among those offering to assist property and business owners through their own programs as well as those through the state and federal governments.
Two programs, the Downtown Redevelopment Program from Main Street Chanute and the Neighborhood Revitalization Program through the county and CRDA, provide rebates on the increase in property taxes from development.
NRP refunds 90 percent of the increase for the first three years, then decreases by 10 percent per year from the fourth through tenth year on investments or improvements of $7,500 to $500,000.
The DRP rebates 100 percent of the tax increase for the first five years and decreases by 20 percentage points over the next four years when the owner invests at least 25 percent of the appraised value of the property. DRP applies only to improvements to buildings in the official downtown district.
Among grant programs, Main Street Chanute has two options and the Chanute Land Bank through the CRDA offers the Chanute Home Improvement Program.
The CHIP program funds new construction and restoration of existing structures including Main Street living.
Main Street Chanute has the Downtown Housing Development and Re-Imagine Downtown initiatives.
Downtown Housing Development provides up to $20,000 for projects with a total cost of less than $100,000; $25,000 for projects of $100,000 to $150,000; and $140,000 for projects over $150,000 to create upper-floor housing.
Re-Imagine Downtown provides funds to activate vacant and underused spaces into businesses that no longer exist due to the COVID-19 pandemic.
The city of Chanute provides Community Development Block Grants of up to $250,000 with a match for commercial rehabilitation of exteriors and interior code updates and violations.
The grant requires an architect and can’t be used for living quarters, only to address commercial space.
The US Department of Agriculture provides loans and some grants of up to 25 percent for energy-efficiency improvements through the Rural Energy for America Program.
Main Street Chanute also has the Downtown Entrepreneurial Development loan program for businesses, and the Incentives Without Walls and the Main Street Revitalization Program, which are both zero-interest loans.
Entrepreneurial Development provides loans to start or expand a business, loaned on a one-to-one basis to expand inventory, develop new or enhanced marketing and promotional programs, or to grow e-commerce.
IWW provides loans of one-third of private funding at 0 percent interest. MSRP provides 0 percent interest loans on small projects of $500 to $2,000 or major projects of $1,500 to $15,000. Small projects have a one-to-one match and major projects have a three-to-one private to loan match.
Another CRDA program, the Grow Neosho County e-community loan program, has a 4-percent interest rate.
The Southeast Kansas Regional Planning Commission offers revolving-loan funds, including those available through the Cares Act.
Buildings on the State or National Historical Register may be eligible for Heritage Trust Fund grants or Kansas Rural Preservation grants and tax credits through State Rehabilitation or Federal Rehabilitation programs.
Anyone interested in these programs can contact Main Street Chanute at (620) 431-0056; CRDA at (620) 431-5222; SEK-RPC at (620) 431-0080; USDA at (785) 271-2700; or city of Chanute at (620) 431-5200.