[Durham INC] Durham Seeks Grant Applicants for Retail & Building Improvements

[Blalock, Amy]

CITY OF DURHAM

Office of Public Affairs

101 City Hall Plaza

Durham, NC 27701

 

 

News Release

 

For Details, Contact:

Amy Blalock

Sr. Public Affairs Specialist

(919) 560-4123 x 11253

(919) 475-7735 (cell)

Amy.Blalock at durhamnc.gov

 

For Immediate Release:  July 9, 2010

 

Durham Seeks Grant Applicants for Retail and Building Improvements

August 2 Deadline to Submit Applications for Both Grant Opportunities

 

DURHAM, N.C. - Durham business owners and entrepreneurs interested in
creating or expanding a business in downtown Durham or targeted areas
inside the city limits should take note of two new grant opportunities
now available through the City of Durham.

 

The City's Office of Economic and Workforce Development (OEWD) is now
accepting applications for the Merchandised-Based Retail Incentive and
Building Improvement Grants.  

 

The OEWD's Merchandised-Based Retail Incentive Grant, specifically
targeted for downtown Durham and select neighborhoods inside the city
limits, will provide economic development incentives to eligible
projects that support the creation, retention, or expansion of
businesses in downtown Durham, including Parrish Street.  

 

Eligible projects within the community development area (CDA) outside of
downtown; within targeted corridors inside the CDA; or within targeted
areas in the urban growth area (UGA) are also encouraged to apply.  The
targeted corridors inside the CDA are Angier Avenue and Driver Street;
West Chapel Hill Street; Mangum Street; Fayetteville Street; East Main
Street; and Holloway Street. The targeted areas within the UGA are
Wellon's Village, North Roxboro Road, and Avondale Drive.

 

In order to be eligible for this grant, the project property must be a
street level, merchandise-based retail business. The applicant must be
the owner of the property or have a fully signed lease and a letter of
approval from the property owner supporting the proposed improvements.
The business must be open at least five days a week, including either
Saturday or Sunday, and be open during lunch and dinner hours.
Organizations that are not eligible to apply are religious
organizations; government agencies or offices; businesses or private
clubs that exclude minors as patrons; or a residential project.

 

Grant recipients are eligible to receive up to $15,000 with equally
matching funds provided by the applicant and only funds spent after City
approval of the grant are eligible to be reimbursed under the grant.

 

The OEWD's Building Improvement Grant requires that eligible applicants
own their building and the estimated total cost of the project must be a
private, non-residential capital investment within the range of $187,500
to $1 million.  If the project is within the community development area
outside of downtown, the minimum allowable project cost must be
$187,500.  

 

Other grant parameters include the following:  If the project is within
the Downtown Tier, the minimum allowable project cost must be $225,000.
If the project is within a targeted portion of the urban growth area,
the minimum allowable project cost is $300,000.  Capital investment
improvements must be on an existing building with vacant spaces for the
purpose of improving the interior and exterior to make the first floor
more rentable or "retail-ready."

 

The deadline to apply for both grants is August 2, 2010, by 5 p.m.  A
30-day review period will be conducted after the submission deadline.
The City's OEWD anticipates announcing the grant winners by early
September 2010.  

 

For a complete description of the grant application guidelines and
application process, visit the City's website at 
www.durhameconomicdevelopment.org.  Interested applicants for proposed
projects outside downtown should contact Peter Coyle, cultural and
business initiatives coordinator with the City's OEWD, via e-mail at 
Peter.Coyle at durhamnc.gov.  For proposed projects within downtown,
contact Joy Mickle-Walker, coordinator of downtown development &
marketing with the City's OEWD, via e-mail at 
Joy.Mickle-Walker at durhamnc.gov. 

 

About the Office of Economic and Workforce Development

The City of Durham's Office of Economic and Workforce Development (OEWD)
seeks to increase the city's tax base through several revitalization
initiatives, including new development efforts in the central city area.
The department also identifies and recruits target industries as well as
assesses and trains Durham residents to fill new jobs.  For more
information, visit www.durhameconomicdevelopment.org. 

 

 

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