The Village of Menomonee Falls adopted Tax Incremental District No. 6 (TID No. 6) and Tax Incremental District No. 9 (TID No. 9) to assist in various revitalization projects identified in the Main Street Redevelopment Plan and the 2010 Update to the Village Centre Master Plan respectively.These previously adopted plans identify strategies and projects focused on redevelopment and business growth within each respective District.To help implement these recommendations, the Community Development Authority partnered with First Bank Financial Centre to create the Business Development Loan Pool (BDLP) program.
The Menomonee Falls BDLP program is a potential financing option to assist in revitalization efforts, increase capital investments, and provide support to new and existing businesses located within the boundaries of TID No. 6 or TID No. 9.The program can provide low-cost loans to businesses as well as a possible funding mechanism for redevelopment or improving commercial and mixed use structures.Loans are generally not made for less than $10,000 or more than $25,000 and have an interest rate that can be fixed as low as 1%.
Forming Strategic Partnerships
The underwriting, loan processing, and servicing are handled by First Bank Financial Centre.The loan approval process includes a recommendation by First Bank and Village staff prior to final action by the Community Development Authority of the Village of Menomonee Falls.Please review the BDLP program brochure and application materials for more details.