Commercial & Home Improvements
Building healthy communities means more than developing affordable rental housing and encouraging sustainable homeownership. Polk CDC’s low-interest commercial façade and home repair loan programs help current business and home owners maintain the safety, quality, and affordability of their homes and workplaces.
Housing Rehabilitation Loans
Polk County homeowners may qualify for a low-interest loan (2%-6% annual interest) to make necessary repairs, upgrades, and additions to their homes!
In order to qualify, you must:
- Own a home in Polk County
- Have a gross annual income lower than 80% of Area Median Income (AMI) based on the size of your household
2010 Income Limits for Polk County, by Household Size
| Persons in
Household |
80% Median
Area Income |
|---|---|
| 1 | $33,150 |
| 2 | $37,900 |
| 3 | $42,650 |
| 4 | $47,350 |
| 5 | $51,150 |
| 6 | $54,950 |
| 7 | $58,750 |
| 8 | $62,550 |
Unlike many conventional home equity loans, Polk CDC housing repair loans are designed to be affordable and accessible for low and moderate income homeowners.
- There is no credit test for participation
- Rates and terms are determined by income and designed to produce an affordable monthly payment
- Polk CDC is willing to work with borrowers when unexpected circumstances affect their ability to pay
Polk CDC can also help you choose qualified contractors, solicit bids, and help ensure that the work is completed on-time and to your satisfaction.
No one deserves to live in an unsafe or uncomfortable home because of low income. For more information or to apply, contact Justin Wolf, Housing Rehabilitation Specialist, at 503-831-3173 or at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . You can also view a “Before and After” photo gallery and a list of Qualified Improvements on this site.
Work under this program is funded entirely by grant funds from the Oregon Community Development Block Grant (CDBG) Program.
Polk CDC and all employed Mortgage Loan Originators are licensed and registered with the Nationwide Mortgage and Licensing System and Registry (NMLS).
Polk CDC ID #345525
Rita Grady NMLS ID#345437
Heather Alvarez NMLS ID#345439
Kim Byrd NMLS ID#______
Commercial Façade Loans
Business owners may be eligible for low-interest loans to improve the appearance of commercial buildings in the City of Dallas.
The Commercial Façade Loan program is administered as a partnership between the City of Dallas and Polk CDC. In order to qualify:
- Applicants must be the owner(s) of the building or have the owner(s) written approval
- The building must be located in a Commercial zoning district
- Loans shall only be used for façade improvements
- Loans need approval of the City Manager after review and recommendation by the Commercial Development Team.
- The improvements need to be consistent with the architectural theme of the area.
- Property taxes must be current before a loan can be made
- Details of the proposed project, including specifications of material type and contractor’s bid, must be enclosed with the application.
If the application is accepted:
- The interest rate will be 4%, amortized over the life of the loan.
- A 2% loan fee, closing costs and title insurance shall be paid by the Applicant.
- Repayment of the loan shall begin three months after the date of initial loan disbursement and shall be completed within ten years of initial disbursement.
- No deferment of loan payments is permitted unless specifically authorized by the City Manager due to unusual or extenuating circumstances.
Help beautify Dallas’ commercial districts and improve your business! To see what the façade loan program can help you do, visit the Qualified Improvements page. For more information or to apply, visit the City of Dallas website or contact John Swanson in the City of Dallas Community Development Department at 503-831-3572.
Polk CDC and all employed Mortgage Loan Originators are licensed and registered with the Nationwide Mortgage and Licensing System and Registry (NMLS).
Polk CDC ID #345525
Kim Byrd NMLS ID#417758