"Cool retail business" retention funding

From Kennedy Smith on the National Main Street list:

The Austin Texas City Council recently launched a cool business retention fund to help independently owned businesses. The fund is capitalized by development fees that come from outside the city’s general fund (like fees for temporary road closings, alley vacations, etc.). It will make low-interest loans up to $250,000 to businesses at risk of being displaced from the downtown area as well as to new, independently owned businesses moving in. The city council may, at its discretion, make loans up to $750,000 and forgive the outstanding balance after five years if the business is still in operation.

See the press release: City of Austin - Congress Avenue Retail Retention and Enhancement
Guidelines: Business Retention and Enhancement (BRE) Program (24 month pilot program)
And from the Austin American-Statesman, "Council creates downtown loan fund."