City of Wausau. MWC file graphic
The Wausau Economic Development Committee is going to consider some proposed changes to the city’s commercial rehab loan policy.
The program, designed to provide gap financing for building facade improvements, allows businesses to take out up to $200,000 in financing over a 15-year period, with the first year’s payments deferred. The loan cannot cover more than 25% of the project’s costs, and the business requesting the financing must have at least 10% of their own money in the project.
Proposed changes include increasing the interest rate on loans greater than $100,000 and doubling the application fee from $50 to $100.
See more about the proposed changes in the agenda packet by clicking here. The Economic Development Committee meets Tuesday at 5:15 at City Hall.
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