Locate Your Business in Downtown Henderson KY
Federal Tax Credits
Most buildings within the Central Business District are contributing buildings in the Historic District. As part of a registered National Historic District, these properties may be eligible for Federal income tax credits ranging from 10 to 20 percent of their restoration costs. These properties will also be eligible for a Kentucky state tax credit. Tax credit information is available in the Downtown Henderson Partnership office.
Free Design Assistance
The Downtown Henderson Partnership provides individual businesses or property owners with design assistance including paint colors, signs, exterior changes, windows and awnings specifications. Assistance is provided based on the needs and budget constraints of the business/property owner overseeing the project. In addition, the Design Committee has compiled technical material complete with slides and a variety of information to assist downtown businesses with building improvements. The Downtown Henderson Partnership, as a Kentucky Main Street program, has access to design assistance through the Kentucky Heritage Council.
Paint Partnership Program
Downtown Henderson Partnership, with the assistance of Homecrafters and Porter Paint, have created a Paint Partnership Program. This program offers exterior paint at a discount to any commercial building in the Central Business District, contributing properties in the four residential Historic Districts, and properties listed individually on the National Register of Historic Places.
Preferred Rate Loan Program
This program is a joint effort between Downtown Henderson Partnership, 5/3 Bank, Field & Main Bank, Independence Bank and Old National Bank. Each bank has pledged $100,000 to the program, and the City of Henderson $50,000 to establish a total of $550,000.
Loans may be approved for amounts ranging from $5,000 to $75,000. Interest rates will be 75% of prime as quoted in the Wall Street Journal at the time of closing. At no time will the rate fall below 3.75%.
The loans will provide for either physical property improvements or business improvements in the Central Business District (i.e. the funding of relocation and/or expansion of a business), excluding purchasing inventory or working capital. The primary use of a qualified property shall be commercial such as apartments, professional offices, restaurants, retail stores, etc. Loans are designed with the intent to aid in promoting the economic and historic revitalization of Henderson’s downtown Central Business District through improvements which will be visible within the community.
The Downtown Henderson Partnership maintains a Vacant Building Survey that lists properties for lease or sale within the Central Business District. Information is available concerning prices, square footage & contact persons. For specific information, go to the Commercial Properties or Apartments pages on our website. Market information concerning city and county demographics is also available at the Downtown Henderson Partnership office.
Tax Moratorium Program
The City of Henderson has established a program for the granting of property assessment or reassessment moratoriums for qualifying property located in the Central Business District. Those eligible are residential buildings and commercial buildings older than 25 years.
The moratorium will be for a period of five years. The application needs to be applied 30 days before any construction takes place.
Click for a copy of the ordinance establishing this program for the granting of property assessment and reassessment moratoriums.
Want to open a business in downtown….. Start Here DHP Start up guide / incentives (2016)
For More Information