The Tennessee Department of Economic and Community Development announced today that letters of intent are now being requested for the Tennessee Historic Development Grant Program (HDGP).
Developed by the Tennessee General Assembly in 2021, the first and second rounds of the program provided $15 million for projects that aim to renovate and preserve the state’s commercial historic buildings. Tennessee Gov. Bill Lee and the Tennessee General Assembly approved a third round of this program in April 2023 after overwhelming support and interest. The funds encourage communities and private developers to invest in buildings that have contributed to a community’s history but now sit idle. These buildings can once again contribute to the economy through job creation and commercial opportunities.
A letter of intent is required to participate and can be submitted from May 15 to June 23, 2023, to confirm eligibility of the historic property by TNECD and the Tennessee Historical Commission. Applications will be accepted from July 10 to August 25, 2023. This program will be highly competitive, and applications will be scored based on project need, impact, overall plan, financing, feasibility, support and location.
Various criteria must be met for a structure to be eligible for a grant. Eligible properties that qualify as certified historic structures are defined here. Additionally, frequently asked questions can also be found on the website.
Applicants will be notified of award later this fall, and contracts are expected to begin within a month of announcing the awards.
TNECD will be hosting a webinar for those interested to learn more about the letter of intent and program guidelines. Webinar information can be found below:
Thursday, May 18, 2023
12:30 – 1:30 p.m. CDT
The webinar will be recorded and uploaded to the website for those unable to attend. Additional information about the grant, eligibility and application can be found here.
