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.
The Sidewalk Reimbursement Program is based on shared sidewalk improvement costs between the property owner, City of Hammond, and Downtown Development District (DDD). The maximum reimbursement from the City or the DDD is one third from each of eligible sidewalk construction costs. Some applications may not receive a full two-thirds reimbursement of eligible costs. Only sidewalk projects located within the DDD are eligible for funding.
APPLICATIONS OPEN EVERY JULY - See below for past application process to plan for 2024
Louisiana Main Street Restoration Grants provide matching funds to encourage the revitalization of historic downtown commercial properties in designated Louisiana Main Street districts. The Louisiana Main Street Restoration Grants serve as an effort to promote community revitalization and stimulate economic growth and vitality, in addition to enriching cultural tourism. Community reinvestment utilizing historic preservation practices improves community economic health by fostering renewed interest in shopping, working, and living downtown.
Grant funding and the number of grants awarded are dependent on state budgets and the amount of funding appropriated by the legislature each year.
This is a reimbursement, matching funds grant!
Building and business owners may apply for a grant ranging from $2,500 to $10,000. Grants require a dollar for dollar cash match by the recipient. In-kind services do not qualify for the match.
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 program. 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
In addition to Federal Tax Credits, qualifying DDD buildings may apply for the State Federal Tax Credit program.
Effective January 1, 2024,
Increased the state historic tax credit from 20% to 25%
“Rural areas” are defined as: parishes with population less than 100,000; municipalities with population less than 35,000; and unincorporated areas of parishes with population of 100,000 or more
This program is run through the Louisiana Office of Culture, Recreation and Tourism in the division of Cultural Preservation.