ABOVE: Sovell and STEP are just two of the 16 businesses that have benefitted from the EDA’s Building Facade program, making improvements to better their frontward presence.

FAIRMONT – Since being adopted in the first half of 2023, 17 businesses have been able to make changes for the better as part of FEDA’s (Fairmont Economic Development Association) Building Facade Loan program.

This includes, but is not limited to, Sovell Jewelry, Silo 67, Giddy-Up Boutique, STEP Inc, The Hub and the Fairmont Vet Clinic.

FEDA Coordinator Ned Koppen said it is something that came up shortly after he started his job with the city.

“I had discussed it with the current administrator at that time and felt like it’s something that worked in other communities,” he said. “We did a little research as to what we might do with our program and then tailored it to what made the most sense to us.”

The program is a five year forgivable loan that businesses do not owe money on unless at some point they cease owning the building. Loans cover half of the projects costs up to $5,000 for a $10,000 project.

“At the end of the project, we ask that they show us paid invoices for the entire project,” Koppen said. “Then we reimburse our half.”

Funds can be used for signage, storefronts, windows, doors, awnings, painting, sandblasting, tuckpointing, thresholds and entryways.

So far, 16 businesses have been helped with this program and one loan is currently pending completion of work. With this continued adoption, Koppen said the program has been and will continue to stay as-is.

“It started strong,” he said. “It’s been popular and continues to be popular. We haven’t had any need to change it, really. It’s worked out well overall from the start.”

As for the city’s involvement with the businesses themselves, Koppen said there are ways they do and don’t get involved.

“What we ask from a business is for quotes for the work to be done,” he said. “If they’re doing signage or other, if they’re able to provide some kind of a rendering of what maybe they’re doing, we include that with the loan application for our loan committee to look at. We ensure before we disperse any funds, that the work has been done and everything lines up the way it should.”

Throughout the program’s runtime, Koppen said he has been continuously impressed by the businesses and what their work accomplishes.

“Whether it’s new siding, tuck pointing, signage or windows, it makes such a difference from the product before and the product after,” he said. “It’s fun to see that transformation.”

With demand holding steady, Koppen said they are hoping to see funding be replenished for the program by FEDA and they can continue to make new projects available for Fairmont businesses.

“There’s a number of different ways that you can spur economic development and this is just one that we chose to add to our tool bag,” he said.

For more information, visit fedamn.com/business-resources/incentives/local-incentives/ and choose the Facade Loan Program. The application and guidelines are available in English and Spanish.