1. Building Owner/Tenant Investment Requirement:
a. Generally, the CRA will match dollar for dollar based on the amount the building owner invests in tenant improvements up to a maximum amount based on the square footage requirements for tenant improvement reimbursement funding. Funding may also be available for establishments that do not receive building owner funding.
b. The tenant must be investing at least 10% of the eligible tenant improvement costs.
2. Funding Eligibility (Non-Focus Areas – Please see the Program Map):
a. Personal service businesses are eligible for $50 per square foot up to $150,000.
b. Retail businesses are eligible for $25 per square foot up to $100,000.
c. If the building owner does not invest in tenant improvements, the tenant would be eligible to receive up to $25 per square foot with a not-to-exceed funding amount of $75,000.
d. If the total eligible funding amount calculated under sections 2 a, b or c is less than $75,000, the funding amount automatically defaults to $75,000 for eligible tenant improvements or the difference between the building and restaurant owner’s contribution and eligible build-out costs, whichever is less.
e. All qualifying businesses are generally eligible to receive up to $25,000 to assist with Rent costs and Common Area Maintenance costs.
3. Funding Eligibility (Focus Areas – Please see the Program Map):
a. Personal service businesses are eligible for $50 per square foot up to $150,000.
b. Retail businesses are eligible for $25 per square foot up to $100,000.
c. If the building owner does not invest in tenant improvements, the tenant would be eligible to receive up to $25 per square foot with a not-to-exceed funding amount of $75,000.
d. If the total eligible funding amount calculated under sections 3 a, b or c is less than $75,000, the funding amount automatically defaults to $75,000 for eligible tenant improvements or the difference between the building and restaurant owner’s contribution and eligible build-out costs, whichever is less.
e. All qualifying businesses are generally eligible to receive up to $50,000 to assist with Rent costs and Common Area Maintenance costs.