• Tax rebates for new construction, additions to existing properties and rehabs. Owners realize an incremental change in their taxes if they improve their property.

• Assistance with down payment, closing and building permit costs for construction of an infill home.

• Small business loans of $25,000 or more when jobs are created or retained.

• Non-interest, deferred loans to first-time buyers.

• Grants to purchase exterior paint for residential properties owned by low- to moderate-income residents.

• Zero to 9% loans for renovation costs to income-qualified owner-occupants.

• Zero percent emergency assistance loans up to $3,000.

• Loan of up to $25,000 at 4% below prime for 20 years for the renovation of a contributing or landmark structure.

These incentives are intended to attract new development into areas targeted for revitalization, address issues of neighborhood deterioration and disrepair, and encourage inner City redevelopment that might not otherwise occur. In addition, the Historic Midtown Citizens Association has a revolving loan fund and has utilized it to assist neighborhood rehab projects.

Several realtors consulted during this planning process indicated that they discourage their clients from using the City's incentives because the approval process is such a slow one. The planning team also heard that there are inconsistencies in the way in which the Neighborhood Inspectors' program is implemented.

Regardless of any real or perceived shortcomings in existing incentive programs, these tools will be critical to the redevelopment of the Center City Neighborhood. Whether it is because of a lack of publicizing the programs or because people are not inclined to live in the neighborhood in its current condition, these programs are not significantly benefiting the Center City Neighborhood. The City must determine how best to increase the impact of these tools.