Two Structures Along Central Avenue Receive $10,000 in Citizens Bank Impact Grants

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BATESVILLE – July 22, 2019 – The Batesville Downtown Foundation has authorized two $5,000 Citizens Bank Impact Grants to Sloan Construction to renovate two buildings along Central Avenue near Historic Downtown Batesville.

The buildings, which are located at 151 North Central Avenue and 171 North Central Avenue, are believed to date back to the mid-1800s, according to Nick Sloan, owner of Sloan Construction, who is well underway with the renovation work.

The grants to Sloan are part of the Citizens Bank Impact Loan & Grant Program, a unique, nationally recognized by the American Bankers Association for community development.  The Citizens Bank program began in 2016, creating a $10 million redevelopment fund for low interest rate loans and a grant pool exceeding $100,000 to benefit the historic district. 

“The Citizens Bank downtown revitalization effort has generated more than two dozen commercial loans that have funded over $4.5 million in projects, and another two dozen grants that have provided nearly $124,000 toward renovations,” said Phil Baldwin, Citizens Bank Chief Executive Officer.  “Demand for the loans and grants remains strong.”

Citizens Bank Impact Grants have helped numerous downtown property and business owners with such needs as painting, restoring exterior finishes and materials, exterior lighting, awnings, sidewalk renovation, and landscaping.  Recipients of the grants are determined by the Batesville Downtown Foundation. 

Sloan said he intends to renovate the two buildings, with current plans to develop a pair of two-bedroom apartments on the second story of the building at 171 North Central Avenue. 

Considerable work has already been done to shore up the integrity of both of the long vacant structures.  A long list of other needs to be addressed includes replicating the architectural style of the building’s windows, fortifying the rock and brick walls, and general painting.  Definitive plans about the future uses of the remainder of the space will be made some time in the future.

“We have followed no particular schedule, but these two grants have definitely speeded up our timeline,” Sloan said.  “We are greatly appreciative of Citizens Bank’s assistance with this project.  We are very pleased to do what we can to help the downtown area.”

Additional information about the Citizens Bank Impact Loan & Grant Program is available by contacting either Jerrod Sandefur for commercial loans (870-698-6313) or Renee Long for consumer loans (870-698-9678).

PHOTO CAPTIONS

Sloan – :  Nick Sloan (second from left) is using $10,000 in grants from the Citizens Bank Impact Loan & Grant Program to renovate two historic buildings that are believed to date back to the mid-1800s.  The grants will, for example, help Sloan replicate the original architectural style of the buildings’ windows.

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