COVINGTON, Ky. – The City of Covington’s Economic Development Department is introducing several updates to its Small Business Incentive Program for Fiscal Year 2027, including the creation of an enhanced façade incentive for eligible commercial properties within the Latonia corridor surrounding Ritte’s Corner.
Approved by the Covington Board of Commissioners, the changes are intended to encourage investment in commercial properties and improve the appearance of one of the City's key business corridors.
The enhanced incentive stems from recommendations included in the 2024 Route 16 (Ritte’s Corner) Corridor Assessment, a study commissioned through a partnership between Southbank Partners and Retail Strategies. The assessment identified a need for additional retail-ready commercial space and greater storefront activation in the corridor to attract new businesses and strengthen the area's pedestrian environment.
The corridor assessment concluded that improvements to building facades, storefronts, lighting, signage, and outdoor activation would help create a more inviting environment for residents, visitors, and potential business tenants.
Under the City’s current Façade Improvement Program, eligible applicants may receive reimbursement for up to 50 percent of project costs, with a maximum award of $10,000. Beginning in Fiscal Year 2027, eligible commercial properties within the designated Latonia corridor may qualify for up to $15,000 in forgivable loan assistance, subject to available funding and program requirements. The enhanced incentive will be available during Fiscal Year 2027. It will help the City evaluate how a targeted, corridor-based approach can accelerate investment and revitalization in other key commercial districts.
The enhanced façade incentive area includes eligible street-facing commercial buildings located on:
- KY Route 16 (Decoursey Avenue and Winston Avenue) between 34th Street and 40th Street
- Southern Avenue between Katie O’Donnell Way and Caroline Avenue
- Decoursey Avenue from the Ritte’s Corner intersection to Church Street
In addition to the new corridor incentive, the City has established updated application deadlines for all Fiscal Year 2027 Small Business Incentive Program funding rounds.
Fiscal Year 2027 Application Deadlines
Round 1
- Deadline to meet with Historic Preservation Specialist: July 24, 2026
- Final submission deadline: August 7, 2026
Round 2
- Deadline to meet with Historic Preservation Specialist: October 16, 2026
- Final submission deadline: October 30, 2026
Round 3
- Deadline to meet with Historic Preservation Specialist: January 22, 2027
- Final submission deadline: February 5, 2027
Round 4
- Deadline to meet with Historic Preservation Specialist: April 23, 2027
- Final submission deadline: May 7, 2027
The City’s Small Business Incentive Program includes the Rent Subsidy Program, Façade Improvement Program, and Historic Electric Sign Grant Program, each aimed at helping businesses and property owners strengthen Covington’s commercial districts.