Downtown Incentives

The City of Sherman is committed to its historic, revitalized downtown. After decades of hibernation, the city’s Central Business District has once again emerged as Sherman’s heart – a hub for shopping and dining that attracts local citizens and tourists alike. The City recognizes that in order for this evolution to continue, downtown success must be a public-private partnership.

In accordance with that goal, the City has made available to entrepreneurs four programs designed to strengthen those partnerships:

  • The Historic Building Restoration and Improvement Grant Program, which provides 25 percent matching funds toward the redevelopment of historic structures, up to $25,000.

  • The Downtown Occupancy Incentive, which reimburses new business owners for as much as 50 percent of their rent or mortgage payments during their first year of operation, up to $6,250.

  • The Fee Waiver Incentive, which provides an exemption from all city fees for developers of new construction or renovation in the Central Business District.
  • The Tax Abatement Program, which promotes development and redevelopment in the Central Business District Tax Reinvestment Zone.

The four programs are designed to compliment each other, and are not exclusive. However, each program requires a separate application, and acceptance into one program does not guarantee acceptance into another program.

All eligibility decisions will be made by the City Manager’s Office and are final. All enrollment decisions will be made by the City Council and are final.

An informational brochure is provided below explaining the programs. If you are interested in pursuing either or both of these programs, please contact the City Manager's Office. Packets and additional information and assistance are available to you.  

Downtown Incentive Program Overview
Central Business District Map
HBRIG Program Packet
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