Grants for New or Existing Small Businesses

Leasehold Improvements

The purpose is to provide incentives in the form of matching grants to encourage the relocation of businesses to targeted areas within the Redevelopment Areas. The intent of the program is to increase the occupancy rates of commercial buildings within the redevelopment areas. The program assists retail merchants, restaurants, and professional offices with costs related to improving interior spaces in leased buildings.

Eligibility

Any business relocating into targeted areas of the Redevelopment Areas is eligible to apply for assistance. Generally, the following are targeted areas:

1. Main Street Redevelopment Area: Commercial Corridors (Tourism Oriented Retail & Restaurants)
2. Downtown Redevelopment Area: Beach Street Shopping District (Retail & Restaurants)
3. Downtown Redevelopment Area: Downtown Development Authority Area (Professional Offices)

The business should meet the criteria for targeted businesses within applicable Redevelopment Areas.

Eligible projects

In general, the intent of the grant is for funding improvements to visible spaces within businesses, such as public reception areas or customer service areas. The following interior improvements are eligible, but not limited to:

1. Fixed improvements to interior spaces.
2. Interior painting
3. Flooring (tile, carpet or wood)
4. Ceiling improvements (including drop – ceiling systems)
5. Additional lighting
6. Storefront lighting
7. Installation of kitchen equipment for restaurants.

Funding

1. Existing businesses may receive awards of up to 50% of the total project cost with no single grant exceeding $2,500.
2. New, expanded or relocated targeted businesses may receive awards of up to 75% of the total project cost with no single grant exceeding $6,000.