Collegiate Times

A local nonprofit group and a town grant program plan to provide funds for interior and exterior renovations for downtown Blacksburg merchants beginning in 2009.

Blacksburg's Downtown Revitalization Committee and the Blacksburg Partnership Foundation are prepared to disburse funds through a loan and a grant program to Blacksburg businesses seeking to renovate their storefronts and inside spaces as a way to encourage investment downtown.

Both plans aim to revitalize a downtown ever more distinguished by empty storefronts and blighted properties.

Blacksburg Town Council's Downtown Revitalization Committee will review a $50,000 matching grant program that will allow qualifying local businesses to refurbish their storefronts.

The town will also look at an additional $10,000 for project design in addition to the matching grant program. This would cover up to 20 percent of architecture design costs.

"This would probably end up covering some internal work," Housing and Neighborhood Services Manager Matt Hanratty said.

Councilwoman Susan Anderson chairs the Downtown Revitalization Committee, which is made up of local residents, business owners and town and university officials.

"We have a pilot program; it's our first year trying this. We'll receive a $50,000 federal community block grant which we'll give as matching funds -- up to $25,000 -- to any business that wants to renovate their facade," Anderson said.

"Any for-profit business in the downtown commercial district zoning area that's current on their taxes would qualify," Hanratty said.

Hanratty said buildings with empty storefronts would also qualify, but with additional caveats.

"They'd have to have a for-profit business in the building within a year," Hanratty said. "When you see an active storefront -- that contributes to a vibrant downtown."

Anderson said the monies provided by the town must go toward facade work only, but that matching funds provided by the business may go elsewhere.

"Businesses who want to participate have to turn in a detailed renovation plan and must turn in receipts accounting for the funds," Anderson said.

Hanratty said any type of for-profit business would qualify.

"I'm sure people have their preferences, and we could probably justify placing some restrictions, but we think it's more important to restore business elements visible from the public right-of-way," Hanratty said.

Grant funding comes from Blacksburg's federal entitlement allotment, which is also used to fund affordable housing projects.

The local nonprofit Blacksburg Partnership Foundation also intends to provide funds for renovations of either interiors or exteriors of downtowns' businesses. The Blacksburg Partnership Foundation is a public/private partnership that includes the Town of Blacksburg, Virginia Tech and local businesses.

Partnership Foundation President Diane Akers said funds would be disbursed based on need and would include a matching fund requirement.

"We want to make these funds available for anybody downtown who needs them," Akers said. "The Board of Directors has approved this program; we hope to start it in taking applications in January."

Akers said that the partnership is still working out the details, but any business in the Blacksburg downtown commercial district would qualify for funds.

"This is part of an overall effort to revitalize downtown," Akers said. "We're considering other things that haven't been finally decided, such as maybe rebating part of business licensing fees or water connection costs."

Anderson is a member of the Partnership's Board of Directors as well as head of the town's Community Development Advisory Board.

Anderson said the funds would be available through a revolving loan program that would allow limited funds to be available multiple times to multiple applicants.

"This is a revolving loan program. We approved the program, but a subcommittee administers it. The idea is to loan out up to $5,000 to downtown business and recoup that money and re-loan it to other businesses," Anderson said.

Anderson said the partnership's money came from fundraising projects.

"The partnership ran the Hokie Bird campaign to raise funds for the partnership," Anderson said.

Akers said that the Hokie Bird sale would take place on Nov. 7. Birds will be sold for roughly $4,500 each.

"The money the birds bring in is how we fund the revolving loan program," she said.

Blacksburg has been considering solutions for the ailing downtown since 2000, commissioning several studies as well as replacing sidewalks, planting trees and installing park benches along Main Street."

Hanratty said the Downtown Revitalization Committee had begun taking applications and would continue through the middle of February.

The committee would review, score and rank applicants, and Town Council will begin deciding who will receive funds by March 5.