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Local News

Redmond Offering Forgivable Half Million Dollar Loan for New Anchor Attraction Downtown


The city is asking for proposals from developers to help them drive more traffic to the downtown area.

 

Redmond Community Development Director Heather Richards explains what they're looking for.

 

"We've just finished with our public improvement projects and now we really want to stimulate private investment in ways to stimulate business downtown, so we're dangling a huge carrot to developers.  We will offer up to $500,000 forgivable loan to partner with anchor development for five years in our downtown core."

 

The development must be located within the boundaries of the downtown overlay district in Redmond and must consist of new construction or substantial rehabilitation.

 

The deadline for applying for an applciation is November 15th.


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