Incentives Without Walls Loan

KANSAS MAIN STREET INCENTIVES WITHOUT WALLS FUNDING PROGRAM

State of Kansas
Administered by:
Kansas Department of Commerce
Business and Community
Development Division

ESTABLISHED:
Incentives Without Walls (IWW) was established in 1995 by redirection of the existing Department of Commerce & Housing funds from another program to this incentive package.

PROGRAM INTENT:
“To create or stimulate private investment in designated Kansas Main Street downtown areas.” The expected outcome of this program is to create employment opportunities; save existing jobs; provide services and products; develop or strengthen new or existing businesses; acquire, rehabilitate or preserve properties; and create a stronger tax base.

AVAILABLE FUNDS:
Pending legislative and administrative finalization of the annual budget, the Kansas Department of Commerce will make available IWW funding for development/rehabilitation projects in the downtown area of designated Main Street communities. These funds will be available in two competitive rounds, August and February, plus an open round. To qualify for the open round, a project must be one that cannot wait for the regular round without loss of opportunity. Kansas Main Street reserves the right to hold over an open round application for the next competitive round.

First Round Applications due: August 31, 2012
Second Round Applications due: February 28, 2013

ELIGIBILITY:
Only active designated Kansas Main Street programs in good standing will be eligible to apply for the IWW funds by submitting application(s) to the Kansas Main Street program. The local Main Street Program applies for the funds on behalf of the business.

IWW Loan Procedures are as follows:

The applicant must be a Discover Phillipsburg Main Street member in good standing for the life of the loan.

Funded projects will have 90 days to begin and must be completed within one calendar year.
Discover Phillipsburg Main Street provides the funds as loans at no-interest.
Funds will be paid to the recipient once the project is completed.
The potential project must be located in the Phillipsburg designated downtown area.
Discover Phillipsburg Main Street will be given a copy of any invoices from the project.
Applicant will be charged for any filing fees and will pay $50.00 for administrative costs.
Loan recipients will be required to sign a promissory note and provide a personal guarantee for the loan.

The length of time that the applicant has to repay the loan is as follows:

$0.00 – $1500.00 – 1 year
$1501.00 – $2500.00 – 2 years
$2501.00 – $6000.00 – 3 years
$6001.00 – $10,000.00 – 4 years
$10,001.00 – $15,000.00 – 5 years
$15,001.00 – $20,000.00 – 6 years

All projects receiving Incentives Without Walls (IWW) funds must have visible signage (provided by Kansas Main Street) and that any locally generated news releases include the statement:
“This project is funded in part by the Kansas Main Street Program, Kansas Department of Commerce.”

The focus of Kansas Main Street is to promote the revitalization of downtowns across the state. The strategies integrate historic preservation principles with sound economic development strategies.
Kansas Main Street
1000 SW Jackson Street Suite 100
Topeka, KS 66612-1354
785-296-0091
mhelmer@kansascommerce.com

Download Applicant guidelines

KansasCommerce.com/MainStreet