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FV Newsletter

The Fountain Valley Communications Team has been created to keep the community informed and connected on various departments’ programs and services including upcoming events. The team decided to create a monthly Fountain Valley Newsletter to update residents on subject matter we believe is of importance to you.  
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Feb 01

New Economic Development Programs

Posted on February 1, 2017 at 10:26 AM by Communications Team

Cities throughout California have been creative in identifying alternative ways to generate new revenues to maintain services in their respective communities since the elimination of redevelopment in February 2012. Since 2013, it has been the City Council’s priority to enhance economic development. City Council approved two new programs to incentivize existing businesses and hotel developers to invest in the City to generate new revenues and/or create jobs.

Commercial Property and Business Improvement Loan Program
  • Provides up to 50% of the rehabilitation improvements.
  • Provides up to $500,000 with 3% interest loan. 
  • Term of loan ranges from 5 years to 10 years. 
  • Defers first year payment; however, interest will still accrue during the first year.
  • Contractor/subcontractors must comply with prevailing wage regulations. 

Hotel Incentive Program
  • Reimburses up to 50% bed tax above $200,000 TOT requirement. 
  • Reimburses payments up to 15 years.
  • Must provide feasibility that shows a funding gap.
  • Contractor/subcontractors must comply with prevailing wage regulations.
To view the guidelines for the Commercial Property and Business Improvement Loan and the Hotel Incentive Program, please visit the City’s website