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City of Middletown Economic Development

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Housing Rehabilitation Program 

Since 1967 the City of Middletown has assisted homeowners in rehabilitating their homes and rental properties.

Grants from the US Dept of Housing and Urban Development have aided in the restoration of over 1000 units over the life of the program by providing homeowners with grants and loans to improve their homes.

The objective of the Housing Assistance Program is to address the decline and deterioration of housing stock in the City of Middletown.

This effort is directed to meet the following specific objectives:

1. Revitalize older neighborhoods
2. Stimulate reinvestment by property owners in their neighborhoods.
3. Expand financial resources available for rehabilitation through a partnership of the public and private sector.

A new round of funding is available for qualified homeowners and landlords.

Applications are available in the OECD Office 16 James Street, 3rd Floor, Middletown, NY 10940 in the Office of Economic and Community Development.

Small Business Loan Program

The Small Business Loan Program is designed to assist small business owners, in conjunction with other financing, in the acquisition of machinery and equipment which will be used for the startup and/or expansion of the business.

The purpose of the program is to provide gap financingt to eligible and viable projects.  The OECD will make available loans at 3 % interest to eligible applicants.

All proposed projects must create meet one or more of the following criteria:

       - Create or retain jobs for low and moderate income persons.

       - Contribute to the revitalization of distressed areas of the City.

       - Loacate in a low or moderate income area and provide a service and/or product that is needed in the community and will have a positive impact on the community.

       - Provide a service and/or product that is beneficial to principally low and moderate income clientele.

A new round of funding is available for qualified homeowners and landlords.

Applications are available in the OECD Office 16 James Street, 3rd Floor, Middletown, NY 10940 in the Office of Economic and Community Development.

Mission

The OECD is dedicated to creating a more vibrant community by:

1. Overseeing the business and community climate of the City of Middletown, in cooperation with the Common Council and various City boards and departments.
2. Administering Community Development Block Grant funds.
3. Foster economic development, redevelopment, growth, expansion, retention and attraction of new and existing businesses in an effort to improve employment opportunities and foster economic growth.
4. Promote neighborhood stabilization through homeownership as well as owner occupied and rental housing rehabilitation assistance.
5. Facilitating communication between commercial interests and the municipal government.
6. Develop and promote Civic and Cultural Affairs as a tourist draw and as a quality of life benefit for residents of the City.
7. Provide financing assistance and other incentives for small businesses utilizing Industrial Development and Community Development Agency mechanisms as well as CDBG funds.