Art and Resource Community Hub (ARCH) Loan Program
What is the ARCH Loan Program?
The ARCH Loan Programs provides matching loans of up to $25,000 to buyers of City-owned tax foreclosed properties that will be used for art related uses or as community resources centers. The program is intended for uses that are generally available for the public.
New construction on vacant land, residential properties, commerical properties and mixed-use commercial properties are eligible for the program.
Basic loan terms:
- 0% interest
- Loan must be used for new construction or property renovation
- Must be matched on a dollar for dollar basis by buyer
- May be forgiven over a five year period, as long as the buyer continues to own the property and maintains the use committed to in application to the ARCH program
How do I apply?
1. DEVELOP YOUR PLAN
- Create a conceptual plan for your project.
- Do you want to create a space for art related uses?
- Do you want to create a community resource center?
- This information will help you determine the amount of space, the type of property and the financial resources you will need to move your project forward.
Resources that can help you to start your business plan
2. SELECT A PROPERTY AND SUBMIT AN OFFER
- Contact any Wisconsin Licensed Real Estate Broker to assist you in identifying a property for your project and assist you in the purchase process.
- As you are looking at properties, we encourage you to evaluate the rehabilitation needs and costs for your project. Prepare a scope of work for needed repairs, renovations and improvements. You can also secure bids from contractors to determine the exact cost of your project.
- City of Milwaukee Real Estate website
Commerical Real Estate Buyer Instructions
3. ASSEMBLE AND SUBMIT OFFER TO PURCHASE PACKAGE
- Submit your offer to purchase to the City Real Estate Department
- Include your rehabilitation plan (scope of work, your bid(s) from your selected contractor, your budget and all preliminary financial commitments, or bank statements, that will demonstrate that you are in the process of securing funding to make your project financially successful)
- After your application has been reviewed by the City Real Estate Department, and everything seems financially feasible, they will provide you with the next steps.
4. SUBMIT YOUR ARCH LOAN APPLICATION
- After your file has been fully reviewed by the City Real Estate Department, and it is determined that your project fits within the ARCH Loan Program requirements, submit your ARCH Loan Program application and rehab plan.
- Your ARCH Loan Program application and rehab plan will be reviewed by a loan officer at the Neighborhood Improvement Development Corporation (NIDC).
- After financial feasibility review, your loan officer will present your application before an Administrative Review Committee for approval consideration.
- Once approved, a letter will be sent to you confirming reservation of funds for a period of 6 months.
- As the buyer, you are responsible to complete the process of securing all needed financial commitments, permit/zoning/licensing approvals and all final approvals assoicated with the purchase of your property.
- Once you have secured all final approvals submit these to your loan officer at NIDC.
5. START YOUR RENOVATION AFTER YOU HAVE PURCHASE THE PROPERTY
- The ARCH program requires that your rehab project is completed within 180 days of closing.
Office of Small Business Development
City of Milwaukee licensing division
City of Milwaukee permit and development center
Milwaukee Economic Development Corporation (MEDC)
Marquette Law and Entrepreneurship Clinic
Milwaukee’s Business Toolbox
The City of Milwaukee may have other programs available if the ARCH Loan Program does not fit your current business plan. Please contact the Commercial Corridor Team at (414) 286-8201
If you have additional ARCH Loan Program questions please contact Benjamin Sanchez at firstname.lastname@example.org
APPLY- ARCH Loan Program Application
Check out what other artists and community leaders are doing with their ARCH Projects
This isn't just being done in Milwaukee! See what other people around the country are doing. Who knows, it might inspire you to do something here in Milwaukee!