Downtown Grants & Incentives
Downtown Grant Program Area
Expanded Improvement Grants
The Expanded Improvement Grant Program aims to reduce vacancy and increase business retention in Historic Overlay District (HOD) by assisting property owners and tenants with funding to renovate historic buildings for occupancy by long-term or short-term uses that generate significant pedestrian foot traffic in downtown. Grants may be awarded to property owners or tenants for exterior and interior improvements to commercial property within the HOD. This program is intended for renovations and repairs that do not exceed a total project cost of $100,000. This grant will match 80% of the total renovation funds to $25,000 and provide a 50% match to $50,000.
For more information on the program and to download the application click the Extended Improvement Grants link.
Façade Improvement Grant Program
The City of Killeen is offering façade grants for eligible rehab projects located in the downtown Historic Overlay District. The grant is structured on a 4:1 basis (80% City / 20% Owner) whereas the City contributes 80% of project costs and the property owner contributes 20% of funds toward façade, and/or sign improvements. These grants are available for up to $10,000 per façade.
Interested in applying for a façade grant? A copy of the City of Killeen Façade Improvement Grant Program application can be obtained from the City of Killeen Development Services, 200 E. Ave D, 2nd floor or by downloading the application (PDF).
NORTH KILLEEN REVITALIZATION PROGRAM
The purpose of the North Killeen Revitalization Program (PDF) is to promote the development and redevelopment of North Killeen. This program includes incentives for residential and commercial business structures' rehabilitation, expansion and/or new construction. The program has been adopted for a period of five years starting September 22, 2015.
Federal and State Tax Credits Available for Downtown Killeen
The Killeen Downtown Historic District has achieved listing in the National Register of Historic Place as well as the federal certified local government designation. Nationally recognized for the historic architecture in downtown as well as the high standards of preservation, make the downtown area available for a number of federal and state tax credits.
Federal Historic Preservation Tax Incentives: The Federal Historic Preservation Tax Incentives program offers a 20 percent income tax credit for the rehabilitation of historic, income-producing buildings.
State Historic Preservation Tax Incentives: State incentives include the newly established Texas Historic Preservation Tax Credit Program and a sales tax exemption on labor available for work to buildings listed in the National Register of Historic Places.