The Development Loan Program is a financial incentive that is designed to encourage commercial real estate development in the CBID. This low-interest loan program offers up to $200,000 for building renovations based on established project evaluation criteria. The loan is amortized over a 20-year period at a three percent (1%) interest rate with a balloon payment due at the end of the tenth (10th) year.
This program is administered by the Center City Development Corporation, an affiliate board of the Downtown Memphis Commission. Projects must fall within the boundaries of the Central Business Improvement District.
To be eligible for the Development Loan, the project’s building renovations, site improvements or new construction must fall within the following list: