Greenwood is setting aside $500,000 to begin making improvements along a main route through the city.
The city redevelopment commission would offer the money as matching grants, which could be used to fix up building facades, add new signs, landscaping, lighting or fencing or install public art.
The money would be spent in a specific corridor, along Main Street, between U.S. 31 and Graham Road, and along Madison Avenue, between Smith Valley and Fry roads.
Projects would need to be located in prominent, high-traffic areas, be a part of larger, overall improvement projects and lead to job creation or job retention. The projects could not include new construction or interior or roofing projects, according to the presentation to the redevelopment commission.
The city redevelopment commission plans to commit $500,000 in tax-increment financing, or TIF, district funds the first year.
Next up, the city board will need to determine the requirements for a project to be eligible, maximum caps and how much property owners would need to contribute toward projects.
