Business Attraction & Expansion Grant
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Business Attraction & Expansion Grant
Program Description
The BAEG is intended to attract new businesses and support the expansion of existing operations within the CRA. The program helps offset eligible relocation or build-out costs.
The CRA may also provide additional consideration for locally owned, minority-owned, or community-oriented enterprises that align with the Cultural, Art, and Innovation District’s vision.
Projects may include interior build-outs or expansions as necessary for business operations; however, funding preference will be given to improvements that visibly enhance the building’s exterior or public-facing areas. The CRA reserves the right to require that a portion of the project scope include façade, signage, or site improvements that contribute to the corridor’s aesthetic transformation.
Funding Structure
- Maximum CRA contribution of $150,000.
- Applicant match of 50 percent of total project cost.
- Reimbursement-based upon completion of approved scope.
Eligible Improvements Include
- Tenant build-out and space expansion (addition of at least 50% existing square footage).
- Permanent interior or exterior construction costs.
- Signage, lighting, accessibility, and parking improvements.
- Relocation-related fees (e.g., impact fees for change of use).
- Up to 50% of six (6) months’ rent during renovation period.
Eligibility and Conditions
- A company must be a for-profit entity with at least two (2) years of operations or demonstrated capacity to sustain long-term business activity.
- Tenants must have a minimum three-year lease (renewable).
- Local hiring and contracting is encouraged.
Priority Business Types
The Agency prioritizes businesses that enhance the CRA’s desired retail mix and contribute to the economic and cultural vibrancy of the NW 79th Street corridor.
Examples of preferred business types include:
- Entertainment venues and cultural attractions;
- Restaurants (full-service, fast-casual, and/or fine dining);
- Breweries and craft beverage establishments;
- Shared-use kitchen halls, food incubators, or culinary spaces;
- Creative workspaces and professional studios;
- Recording and production studios for the film and music industry;
- Independent, locally owned coffee shops and cafés;
- Fresh produce markets and farmers’ markets;
- Performing arts venues and small theaters; and
- Specialty or boutique retail stores.
The CRA may also provide additional consideration for locally owned, minority-owned, or community-oriented enterprises that align with the Cultural, Art, and Innovation District’s vision.
Projects may include interior build-outs or expansions as necessary for business operations; however, funding preference will be given to improvements that visibly enhance the building’s exterior or public-facing areas. The CRA reserves the right to require that a portion of the project scope include façade, signage, or site improvements that contribute to the corridor’s aesthetic transformation.
PROPERTY ELIGIBILTY
See if your property is within the NW 79th Street CRA Boundary