The program's purpose is to stimulate substantial new private investment in existing multi-story downtown buildings by underwriting the cost of installing an elevator so as to make the upper stories more accessible and readily available for commercial, office and residential uses.
To participate in the Elevator Grant program the buildling(s) must be located within the area bounded by Bates Street to the east, the Androscoggin River on the west, Maine Central Railroad on the north, and Adams Avenue and Gully Brook on the south. Priority will be given to buildings located between 1-541 and 2-550 Lisbon Street; and on Main Street between its intersections with Bates and Canal Streets. The elevator must serve a single or adjacent multi-story buildings with a combined minimum total of 25,000 square feet of leasable space. The building must be at least three stories high, privately owned, mixed use, and taxable.
Grant allowances are based on the amount of new, private investment being made in the property. For each $3 of investment, the city will grant $1 toward the acquisition and installation of an elevator. The maximum grant for one project is $150,000 (to qualify for the maximum grant, an investment of $450,000 is required).
A maximum of two Elevator Grants will be given in any single year, subject to funds availability.