The Watertown Redevelopment Authority proudly announces the latest recipients of its Downtown Commercial Revolving Loan Program. Budget Print, located at 107 S. 5th Street, and the Deerfield Properties building at 118 N Water Street, have been awarded loans to support significant enhancements to their properties.
The Downtown Commercial Revolving Loan Program is a key initiative designed to stimulate business expansion, create high-quality upper-level residential units, and update historic structures in Watertown's downtown area. The program offers low-interest financial support for façade beautification, structural repairs, and major mechanical upgrades, including plumbing, electrical, heating, and cooling systems. Additionally, loan funds can offset costs related to design, architectural, or engineering expenses.
Steve Hill, owner of Budget Print, expressed his enthusiasm for the program: "We are thrilled to receive this support from the Watertown Redevelopment Authority. The revolving loan fund allows us to undertake necessary upgrades that will not only enhance our building’s exterior but also improve our operational efficiency. This investment will help us continue to serve our community with high-quality printing services."
Dan Rahfaldt, representing Deerfield Properties, echoed these sentiments: “The RLP fills a hole for funding revitalizing projects and buildings. It allows us to use lower cost loans on infrastructure in addition to façade and aesthetic based projects. It also is definitely more affordable, more viable and preferred to a conventional bank loan”
The Watertown Redevelopment Authority is dedicated to revitalizing the downtown area and supporting local businesses through innovative programs like the Downtown Commercial Revolving Loan Program. By investing in these projects, the Authority aims to create a more prosperous and attractive environment for residents, visitors, and businesses alike.
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