HUD Low Interest Loan Program*
DEADLINE TO APPLY MARCH 31ST, 2012
Port Townsend Main Street HUD Loan Review Committee
* HUD Loans are available for projects located within the commercial historic districts of Port Townsend—uptown and downtown.
(Sorry, no retroactive proposals.)
Mailing Address: __________________________________________________
City:_______________________________________ State:_____ Zip:________
Phone: ___________________________ Fax: ___________________________
Email Address: ____________________________________________________
Please write a brief description of your project including the building age, building name, square footage, current building use, post-project building use. Include a description of the specific improvements to be made, and a description of expected benefit of HUD fund expenditures.
Does the applicant own the project building? ٱYes ____ ٱNo ____
If the answer is no, please attach a letter from the owner expressing approval of the project proposal.
3. Prior Liens
Please disclose any liens, mortgages, deed of trust, any other security interests or encumbrances affecting your property, and current approximate balances.
4. Architect involvement
Will you be using the services of an architect? ٱYes ٱNo
If yes, list the architect you will employ: _________________________________________________________________
5. Funding Request
Estimated total project cost: _____________________________________________________
HUD funds requested: __________________________________________________________
Describe how the HUD funds will be utilized in this project: ___________________________
6. Estimate project cost:
Provide a complete description of the work to be performed, with TWO BIDS FROM A LICENSED CONTRACTOR. If the applicant can provide sufficient evidence, satisfactory to the committee, that he/she is capable of completing the project him/herself, applicant may eliminate the need for a bid. Provide material and labor cost estimates by major categories such as awning, paint, repair, carpentry, electrical, etc. as an attachment to this application and include a description of how HUD funds will be utilized:
7. Funding amount requested:
Funding is available upon completion of your project and submission of invoices. Funds shall be disbursed by the City upon completion of construction, and after verification to the city’s satisfaction of the amount expended. No retroactive proposals, please.
(Maximum request $40,000): _________________
8. Title Insurance:
All loans are contingent upon approval by the City attorney of a current title insurance Policy. Note: For loans over $10,000, the policy will be at applicant's cost.
9. Project start: __________________________________________________
10. Project completion date: ________________________________________
The Port Townsend Main Street HUD Loan Review Committee encourages you to use the following checklist as an outline for your application.
Please provide the following information, as applicable, with the application:
Note: The project description, cost estimate, and photographs are REQUIRED (Main Street will assist with photography if necessary).
ٱRecent photo showing building.
ٱRecent photo showing situation that HUD funds will be used to improve/correct.
ٱVisual Rendering (if available)
ٱPaint Chip Samples (optional).
The undersigned applicant(s) affirm(s) that:
1. The information submitted herein is true and accurate to the best of my (our) knowledge.
2. I/We have read and understand the conditions of the Port Townsend Main Street HUD Low Interest Loan Program and agree to abide by its conditions.
Signature of Applicant(s): Date:
Please write clearly
Please return a copy of this completed application form to the Port Townsend Main Street office at 211 Taylor St. #3, Port Townsend, WA 98368, or drop off at the office on the 2nd floor of the Mount Baker Block Building. Copies will be distributed to the HUD Loan Committee for review. Please feel free to contact Mari Mullen, Executive Director, by email: firstname.lastname@example.org, by telephone: (360) 385-7911 or visit the Main Street website: www.ptmainstreet.org if you have any questions. Thank you for your interest!
Subject to approval.
Official Use Only
Port Townsend Main Street HUD Loan Review Committee Action: ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Port Townsend Executive Director Notes: ____________________________________________________________________________
Final Inspection Date: ____________________________________________________________________________
Application Amendments: ____________________________________________________________________________