City of Oil

Incentives

Residential Property LERTA (Local Economic Revitalization Tax Assistance)

If you are thinking about improving your home, you may be entitled to a property tax exemption on the assessed value of the improvements. You must apply BEFORE you begin the work. The LERTA provides tax forgiveness on the assessed value of the improvements for up to 10 years (100% the first year sliding to 0% in year 10). You can download the application by clicking here:

More information can be obtained by calling the Code Enforcement Office at 814-678-3003.

Commercial/Industrial Property LERTA (Local Economic Revitalization Tax Assistance)

You may be entitled to a property tax exemption on your contemplated alteration or new construction of deteriorated industrial, commercial or other business property. The LERTA provides tax forgiveness on the assessed value of the improvements for up to 10 years (100% the first year sliding to 0% in year 10). Must be filed with the City of Oil City at the time a building or alteration permit is secured. You can download the application by clicking here:

More information can be obtained by calling the Code Enforcement Office at 814-678-3003.

ARTS Oil City Artist Relocation Program

Incentives available to artists looking to move to Oil City include very affordable downtown studio space and 100% financing on home purchase assistance. Restrictions and a work-review process apply. Please click here or contact Joann Wheeler, 814-676-5303 for detailed information.

Main Street Facade Grant Program

Oil City Main Street Program offers grants to downtown building owners looking at improving the facades of their buildings. Awards can be up to $5,000 with a dollar for dollar match from the building/business owner. Contact Kathy Bailey, 814-677-3152, for more information

City of Oil City Facade Loan Program

The City of Oil City offers a low interest small loan program to businesses/building owners wishing to update or improve their facades. This loan can be used as match for the Main Street Facade Grant. Contact Kristin Arendash, 814-678-3018, for information.