NKyTribune staff
The City of Covington’s plan to modernize it’s zoning code is nearing completion and a draft of the proposed district map is available for viewing. In addition, the City continues to offer several incentive programs for businesses owners in the Covington.
Modernizing the zoning code
The 18-month effort to modernize, simplify, and improve Covington’s zoning regulations to better guide development is coming to a close.
A full draft of the City’s proposed new Neighborhood Development Code (NDC) – which will fully replace an unwieldy Zoning Ordinance that’s costly and time-consuming to navigate – will soon be available for the public to examine.
“We’ve been going through the draft with the proverbial fine-toothed comb, and we want to give residents and businesses the opportunity to do the same,” said Christopher Myers, the City’s preservation & planning specialist. “We still have time to make adjustments.”
Proposed district map
City of Covington Incentives
As the COVID-19 pandemic continues to impact the daily lives of people nationwide, it is more important than ever for businesses to take advantage of all of the resources that are available. The City of Covington offers the following incentives for eligible business approved through the application process.
Facade Improvement
Type: Forgivable Loan
Incentive: 50/50 Match
Target: New & Existing Businesses
Details: City will match the investment made by the business/building owner on a $1 to $1 basis up to $12,000 in total project cost. The maximum total benefit per business is $6,000.
The City of Covington helped fund facade improvements at 21 E. 32nd St., the building that is home to FunShine Child Care. It is one of several programs available from the City to assist business owners (provided photo).
Rent Subsidy
Type: Grant
Incentive: Up to $500 per month reimbursement
Target: New Businesses
Details: Reimbursement of rent payment of up to half of the business’s monthly rent or $500 per month (whichever is less). Eligibility for assistance is up to 12 months.
Upper Floor Rehab
Type: Forgivable Loan
Incentive: Up to $20,000 per residential unit
Target: Building Owners
Details: Provide eligible property owners up to $20,000 per unit for the redevelopment of vacant upper floor space into quality affordable rental housing.
Jobs Development
Type: Reimbursement
Incentive: 1-1.25% Reimbursement
Target: New & Existing Businesses
Details: Provides from 1 to 1.25% reimbursement of the City’s occupational license fee to eligible existing and new businesses that are creating and retaining jobs. Minimum payroll is $250,000.
Covington Real Estate Lead program for available retail
The City of Covington offers a free service for those interested in listing, or getting information about, available property. Those interested in signing up to receive Covington Real Estate Lead emails can click here to subscribe.
Real Estate Partners:
Those with available spaces that fit the user’s needs below should send Nicole Devlin (Nicole.Devlin@CovingtonKY.gov) a property flyer. Remember, space that is not being advertised cannot be listed. This free service will help bring more attention to your property.
New Leads
•Retail User: Looking for commercial kitchen space with some parking available.
•Retail User: Seeking 2,000 SQFT space, in a high foot trafficked area.
•Space Available: Approximately 750 SQFT of commercial space available. It will be a white boxed room, 15×38 ft, with a small storage area, restroom and basement (for additional storage).
Still Looking
•Creative Office User: Looking to purchase 10,000 – 20,000 SQFT. Would consider multi-tenant or conversion as long as 10,000 SQFT can be occupied.
•Retail User: Looking to lease (max 3 year) 750-1,250 SQFT for retail space. Need sinks and floor drain, but not a commercial kitchen. Three phase power preferable with easy access parking. Central Business District, Roebling Point, or Mainstrasse.
•Creative User: Looking to build, lease or purchase 8,000 – 12,000 SQFT with high ceilings.
•Retail User: Looking for a space preferably with existing commercial kitchen set up, unspecified SQFT needs.
•User: Looking for 2,000 – 3,000 SQFT.
•Office User: 2,000 – 3,000 SQFT office space for at least 5 employees, close to urban core with easy access parking.
•Creative Office User: Looking for small space, with a low budget. No storefront needed. Open floor plan that allows for variety of set-up options.
