[MainstreetTowns] Medford, OK - Building Restoration

[Rhonda R. Skrapke]

Most generally commercial zoning allows residential use.  I would ask for a copy of Medford's zoning regulation as it relates to the district and determine if residential is an allowable use.  I cannot imagine that it is not.  If you find this to be the case, no rezoning would be required.

I would find out if the building is listed on the National Register of Historic Places.  If so, you may be eligible to pursue a tax credit project.  I would contact Lynda Ozan with the Oklahoma State Historic Preservation Office.

I would contact Don Roberts at Autry Technology and see if he could guide you to lending institutions who might be interested in a venture like this.  If he can't help you, he may be able to direct you to someone who can.

Just a few of my thoughts.

From: MainstreetTowns [mailto:mainstreettowns-bounces at lists.onenet.net] On Behalf Of Buffy Hughes
Sent: Tuesday, January 16, 2018 9:12 AM
To: mainstreettowns at lists.onenet.net; Duane Thompson-Jones
Subject: [MainstreetTowns] FW: Medford, OK - Building Restoration

Good morning.  Below is a question from a gentleman in Medford regarding a downtown building he and his wife purchased.  Duane would be very appreciative if anyone can provide any information or assistance.  Thank you.

Have a good day,
Buffy

Buffy Hughes
State Main Street Director
Oklahoma Department of Commerce
900 N. Stiles Ave., Oklahoma City, OK 73104
E: Buffy.Hughes at okcommerce.gov<mailto:Buffy.Hughes at okcommerce.gov>
P: 405.815.5249
C: 405.664.1260
OKcommerce.gov/main-street




[MSALOGO_17COPROGRAM_CMYK]



From: Duane Thompson-Jones [mailto:Duane821 at live.com]
Sent: Friday, January 12, 2018 1:17 PM
To: Buffy Hughes <Buffy.Hughes at okcommerce.gov<mailto:Buffy.Hughes at okcommerce.gov>>
Subject: Medford, OK - Building Restoration


Hello,



I recently bought a 2-story brick building (built in 1911) in downtown Medford, Oklahoma, that has been sitting vacant for many years. The building is surprisingly still in good shape (I've had an inspection done - the foundation is in great shape) but needs a lot of work before it can be used again. My wife and I are wanting to restore the building and live upstairs and start our family there, however, finding a bank that issues a loan for a non-livable, commercially-zoned building is difficult (I'm currently working with the city on how I can get the building rezoned as residential).



I was wondering if anyone knows of a bank or a program that issues loans towards the rehabilitation of historic properties?



Attached are two pictures of the building.



Any leads or information would be greatly appreciated!



Duane Thompson-Jones



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