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7-25-05 - The City of Sherman is joining forces with Grayson County to help revive the downtown district. A Monday morning commissioners meeting set the wheels in motion for tax abatements and matching grants.
Downtown merchants and entrepreneurs will soon be getting some financial help if they want to renovate their store fronts, expand their business, or even buy new buildings.
Both the city and county will give 100 percent tax abatements for the next five years on any improvements. The city is also offering a matching grant of twenty-five cents per dollar, up to $25,000, for renovations of historic structures.
City officials are hoping these incentives will allow current business owners to make renovations but also attract other entrepreneurs to downtown and fill the vacant buildings.
City officials say as a government, they've tried a bunch of plans to breathe life back into downtown, but now its time to support entrepreneurs and what they want to do. These incentives go into effect in October.