Loans, Grants Offered for Redevelopment Projects
The Community Development Commission is offering grants and low-interest loans to help business owners rehabilitate commercial buildings on the city’s eastside, officials said.
New and expanding businesses located in the East Side Redevelopment Project Area are eligible for grants of up to $25,000 and loans of up to $75,000, said Allyne Winderman, economic development and housing manager.
The redevelopment area is generally bounded by Fountain Avenue on the north, Willoughby Avenue on the south, La Brea Avenue on the east and Hayworth Avenue in the west, she said.
The loan program is designed to encourage the development of a variety of pedestrian-oriented businesses in the area, which Winderman said now has a combination of retail and light industrial businesses.
To be eligible for the funds, applicants must lease their property for a minimum of five years and operate a business that serves a neighborhood need or will have neighborhood support, among several other criteria, Winderman said.
There is no fixed application deadline for the loans, she said. The commission has $100,000 set aside for the program this year.
Information: Lester Burg, Community Development Department, (323) 848-6475.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
