Financial Assistance

There are many perks to doing business in the Hammond Downtown Development District. State and Federal Historic tax credits still exist for qualifying projects; as well as two Hammond DDD established incentives: the Facade Grant Program and the Revolving Loan Program. All of these options encourage the renovation and improvement of the district’s existing buildings, as well as promote and encourage new business and development.
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COVID-19 Programs

The HartBeat of Main Street Grant 

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THIS APPLICATION IS CURRENTLY CLOSED!

As the economy continues to deal with the effects of COVID-19, we are committed to supporting small businesses as they work to reopen safely. The HartBeat of Main Street Grant Program will fund solutions that help small business owners respond and adapt to the COVID-19 pandemic, and also help to revitalize and strengthen older and historic downtown commercial districts. Grants of $5,000 to $15,000 will be awarded on a competitive and first-come, first-served basis.

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Main Street Recovery Grant

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Act 311 set aside $275 Million for a SMALL BUSINESS GRANT PROGRAM.

Businesses can apply for up to $15,000 to cover eligible expenses. 
 
On June 12, 2020, Governor John Bel Edwards signed Senate Bill 189, Act 311 enacting several COVID-19 relief funds including the Louisiana Main Street Recovery Fund that awards grants to many Louisiana small businesses to assist in their recovery from the economic impacts of COVID-19. The Program will be administered by the Louisiana Department of Treasury (John M. Schroder, State Treasurer).

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DDD Programs

Facade Grant

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If you plan to renovate the exterior of your building including renovations to the front of your building, awnings, painting or lighting, the Facade Grant program may be right for you!  The Facade Grant awards are not to exceed $2,000 and must be matched dollar for dollar by the recipient. Only one application per fiscal year, work must be finished to apply. Facade Grants are not awarded for signage.

In 2018 the DDD distributed $6,815 in facade grants.

In 2019 the DDD distributed $6,000 in facade grants.

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Revolving Loan

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DDD offers a low interest loan to property owners and business owners in our District up to $75,000 with an interest rate of 2 below prime. Applicants for the loan fund must be a registered sole proprietorship, partnership or corporation established for doing business in the DDD. Renovations are not limited to façade only, eligible projects include: acquisition of land for industrial or commercial use, acquisition of improved properties with development potential for industrial or commercial use limited to owner or tenant occupancy, start-up and/or expansion of businesses in the DDD, rehabilitation and renovation of usable vacant buildings for specific industrial or commercial use in the DDD.

If you are interested in applying for a revolving loan, please contact the DDD.

In 2018 the DDD distributed $249,196 in Revolving Loan funds. 

In 2019 the DDD distributed $150,000 in Revolving Loan funds. 

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Tax Credits 

 Federal Tax Credits for Historic Buildings

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Louisiana is a national leader in dollars used for the Federal Tax Credits. This program is run through the National Park Service and offers applicants a 20% tax credit for rehabilitation to historic, income-producing buildings.

Any qualifying building in the Historic District can utilize this problem If you are interested in applying for a Federal Tax Credit, please contact the Hammond Historic District- 985-277-5684 Or visit the National Park Service Website

Louisiana is a nation leader in dollars used for the Federal Tax Credits. 

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State Tax Credits for Historic Buildings

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In addition to Federal Tax Credits, qualifying DDD buildings may apply for the State Federal Tax Credit program. This program offers another 20% tax credit for rehabilitation to historic, income-producing buildings. This program is run through the Louisiana Office of Culture, Recreation and Tourism in the division of Cultural Preservation.

Visit their website for guidelines and more information.

If you are interested in applying for a Federal Tax Credit, please contact the DDD 985-277-5681

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Louisiana Main Street Programs

Redevelopment Incentive Grant 

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THIS APPLICATION IS CURRENTLY CLOSED! 

Hammond Downtown Development District is soliciting Main Street Restoration Grant

applications from downtown commercial building and/or business owners. The Louisiana Main Street program offers grants ranging from $2,500 to $10,000. Grants are available for either interior or exterior building rehabilitation projects.

Applications received from Hammond Downtown Development District building and/or business owners will compete statewide for funding with other Main Street communities.

To be eligible for Main Street Restoration Grant funds, a building must be located within the downtown Main Street district, be used for commercial purposes, and be at least 50 years old.

In addition, the proposed work must be approved by the local Historic District Commission and the Louisiana Main Street office, while also conforming to the guidelines set forth by the Secretary of the Interior’s Standards for Rehabilitation.

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Historic Revitalization Subgrant Program

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THIS APPLICATION IS CURRENTLY CLOSED! 

The Louisiana Main Street Program was one of nine projects nationwide to receive grant funding through the Historic Revitalization Subgrant Program (HRSP). The National Park Service, which oversees the HRSP grants, awarded Louisiana Main Street $662,000 for the rehabilitation and revitalization of commercial buildings around the state.  Grant awards in the amount of $55,000 each will be given to owners or tenants of historic buildings located within officially designated Louisiana Main Street districts. Grants are available for either interior or exterior building rehabilitation projects.

 

To be eligible for HRSP funds, a building must be located within a Louisiana Main Street district in a community with less than 50,000 population.  The building must also be either individually listed on the National Register of Historic Places or a contributing element in a National Register Historic District.  In addition, buildings that are eligible for either of these National Register designations but not currently designated can qualify.  All proposed rehabilitation work must comply with The Secretary of the Interior’s Standards for Rehabilitation.

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Find more funding options and education in the links below.


The Hammond Downtown Development District is an equal opportunity provider.
Enterprise Zone Program
Quality Jobs Program
Restoration Tax Abatement
Industrial Property Tax Exemption
Southeastern Louisiana University Small Business Development Center

For questions and more information...

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