315570 - Vacant Buildings Demolition Fund
Funding Opportunity Details

Vacant Building Fund

Final Application Deadline: Dec 22, 2022 11:59 PM

Description

• Description

  Vacant Buildings Demolition fund:  A grant program established to fund the demolition of vacant buildings owned by the state or formerly owned by the federal government and now under county ownership that are no longer used for state purpose.  $1,000,000 dollars is allocated for the 2022 - 2023 fiscal year.

  Program Parameters:

  • Must have a state-owned building or formerly federal-owned building now under county ownership that is vacant/no longer used for a state or federal purpose in your community or county.
  • Applications will be reviewed on a competitive basis.
  • County/City can apply for both grant and loan for the same project.
  • County/City is the applicant.  IEDA contract will be with the County/City.
  • IEDA will give funding priority to new recipients.
  • For a large campus, applicant may request funds for one part of a larger project as long as the ownership of the entire campus leaves state or federal control.
  • A contract if awarded will be between the State and The City/County.
  • If awarded, a development agreement between the City and the Developer will be required to be finalized before the first draw of funds.
  • A resolution from the City council in support of the project will be required with the application for assistance.
  • No more than 50% of the cost of a demolition of a vacant building(s) shall be funded from a grant under this program.