Commercial Property Grants
Commercial property grants are monies handed out by grantors (either public or non-profit) to commercial property owners that contribute to qualifying real estate projects. There are a wide range of grants available for all kinds of purposes, from redeveloping public facilities to improving the safety of buildings you own. For investors, they are important vehicles to keep costs down and maximize the expected return on capital. In short, they’re something that you need to consider.
If you’re interested in the idea, get in touch with us today. We manage your application on your behalf, eliminating the hassle of managing your account.
What are Commercial Property Grants?
Commercial property grants are financial facilities provided by grantors (such as the government) that contribute toward constructing and renovating commercial properties. There are various grants available for owners and investors, including after a natural disaster, renovating historic buildings, and improving the eco-friendliness of properties.
Commercial property grants are available from federal, state, and local governments. The source of the cash depends on your particular circumstances and project needs.
The Agent’s Role in Commercial Property Grants
Applying for these grants can sometimes be a time-consuming process. There are a lot of them, and they are available from multiple sources, including state and local governments and nonprofits.
In a complex situation like this, an agent can help. Their job is to assess your property, tell you whether you might qualify for a grant, and then seek payment from grantors on your behalf. The process is involved, so it makes sense to hire a professional to do it for you. You can concentrate on building your wealth while the agent does all the administrative work to get hold of the cash you need.
To learn more about how we can help you obtain a commercial property grant, speak with our team today.
Commercial Property Grants In Idaho
Commercial property grants are available in Idaho for the following purposes:
- Improving the eco-friendliness of commercial buildings
- Developing land in specified areas
- Purchasing qualifying buildings
- Rebuilding commercial properties following a natural disaster
- Demolishing old buildings that are no longer serving a fruitful purpose in the community
- Improving public buildings and facilities in the local area
- Improving the safety profile of the commercial property and removing waste
The Idaho state government hopes that by providing money to local property investors and developers, it can improve the community’s overall quality and build a better environment for residents.
Types Of Commercial Property Grants
There are currently several types of commercial property grants investors can use to reduce the cost of renovating, constructing, and developing commercial properties.
Community grants: The US Department of Agriculture, tribal agencies, and municipalities provide community grants for investors and real estate owners looking to renovate or construct buildings for general public proposes. In some cases, these hand-outs can cover up to 75 percent of the cost of the project.
Revitalization grants: If the commercial property is in a run-down area, you may be able to apply for funds for urban renewal. The grantor provides money and, in return, you improve a property in the area on their behalf, hoping that it will enhance the community outcomes.
Environmental grants: The government is currently very keen to ensure that properties across the US meet high ecological standards. In some cases, you can apply for cash to support efforts to make your real estate greener and friendlier to the environment.
Disaster grants: Natural disasters can damage commercial property and lead to long-term damage to the community. Therefore, governments are often willing to pay property developers to restore buildings to their former condition, helping local settlements get back on their feet.
Demolition grants: Sometimes, existing disused buildings prevent development from moving forward. Demolition grants act as incentives for investors to knock-down an existing property to make way for a new one.
Safety grants: Often, the public authorities will provide money to real estate investors to improve their properties’ safety features. They might use the funds to enhance the fire alarm system, expand stairwells, and increase the number of fire exits. Usually, grantors won’t pay for all of the improvements upfront, but they can significantly reduce costs.
Navigating the commercial property grant landscape can be tricky, but we make it easy. Our expertise allows you to find the perfect grant for your situation without any of the usual administrative overhead.