Home & building owners in underrepresented neighborhoods encouraged to apply

LOUISVILLE, Ky. (February 17, 2025) – Applications for the next round of low-interest loans to help owners of historic properties with needed repairs are being accepted through Friday, February 28.

The Vital Sites Low-Interest Loan Program was announced in May 2023 in partnership with the Owsley Brown II Family Foundation and Louisville Metro Government. Together, they committed $1 million to the historic preservation nonprofit to establish a revolving loan initiative to fund repair, stabilization and rehabilitation of eligible Jefferson County homes and commercial buildings. Loan amounts range from $10,000 to $75,000, with interest rates of 1 to 2%.

The program prioritizes neighborhoods west of 9^th Street and similar areas with a high density of historic structures and history of underrepresentation, including Beechmont, Portland, Russell, Shelby Park, Smoketown, Taylor Berry, and James Taylor-Jacob School near Harrods Creek.

“So many of our city’s homes are steeped in history, and we are proud of the progress that has been made since the program’s launch,” said Mayor Craig Greenberg. “This fund through Vital Sites is helping property owners make much-needed repairs to stabilize, revitalize and renovate important structures. This program is not only helping families fix their homes, but it is helping transform entire neighborhoods.”

Those interested are invited to learn more during one of two public meetings at 5 p.m. Tuesday, February 18 or Tuesday, February 25 at Brown Memorial CME Church, 809 W. Chestnut St.

To qualify, properties must be listed or eligible for listing in the National Register of Historic Places, meaning at least 50 years old with a high degree of original material and design, among other criteria.

Eight projects have been funded to date. These include a mixed-use corner building in Smoketown that once housed a blues club, which received $75,000 for redevelopment as a home and office; a home in Russell that received $35,000 for various projects including box gutters, tuckpointing, and window and masonry repair; and a home in the Shawnee neighborhood in imminent danger of collapse, which received $10,000 to replace the main structural beam rotted from termite damage.

“The contractor was surprised the house hadn’t already fallen in,” according to the latter homeowner, who said he was grateful for the loan as the situation was dire and he had no other options.

“With so many great buildings throughout these neighborhoods, we know there is a need,” said Heath Seymour, Vital Sites executive director. “We encourage all owners that may qualify to submit an application. Few funding opportunities offer rates this low, and while competitive, the process is simple and the outcome is worth the effort. We want to help residents stay in their homes, and help new and potential home and building owners invest in properties to bolster neighborhood stability.”

Eligible repairs include roofing, windows, siding or masonry, fencing, painting, plaster and drywall, flooring, HVAC, and electrical and plumbing. As appropriate, repairs must conform to rehab standards; for example, restoring windows rather than installing vinyl replacements. Priority will be given to work on front façades to encourage streetscape revitalization and beautification.

The Vital Sites loan program may be paired with other state and local programs to amplify financial impact. Owners are also encouraged to learn more about state and federal historic rehab tax credits through the Kentucky Heritage Council, the state historic preservation office, which could increase overall return-on-investment by an additional 30%.

For the loan application or information, visit www.vitalsites.org or email info@vitalsites.org.

Vital Sites is a resource for financial assistance, technical expertise, and policy solutions to encourage investment in vacant, undervalued, and endangered properties in Metro Louisville.

For information: Diane Comer, Vital Sites Project Coordinator, 502-681-2479

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