The Office of the Deputy Mayor for Planning and Economic Development (“DMPED”) is seeking applications for its Downtown Recovery Grants.
Donor Name: Office of the Deputy Mayor for Planning and Economic Development (DMPED)
State: District of Columbia
County: All Counties
Type of Grant: Grant
Deadline: 03/15/2024
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The Program will provide grants for the purpose of supporting construction and operation of business enterprises that are locating or expanding in commercial spaces in the Downtown BID and in the Golden Triangle BID that have been vacant for at least six months (“Project”). The Program will incentivize businesses to locate and expand in these neighborhoods within the Central Business District that are experiencing high commercial vacancy and reduced foot traffic. The Program will provide grants to cover the costs of building out a new space and operating a business in the space. Eligible costs include capital improvements (construction) and rent.
Funding Information
An anticipated award range of $200,000 to $3,000,000.
Project Requirements
- Businesses must lease space in the Downtown BID and Golden Triangle BID that has been vacant for at least six months prior to the RFA release date.
- Project location must be designated for commercial use, including retail or office.
- Businesses must operate in an eligible industry
- Projects must be complete by September 30, 2025.
- Applications should demonstrate how Projects will drive foot traffic to the Downtown BID or Golden Triangle BID or will generate economic activity in these neighborhoods.
- Applications should demonstrate the feasibility of the business model and the likelihood that the business will be successful in the Project location.
- Projects must abide by all District laws and regulations.
- Applicants should demonstrate site control or have a Letter of Intent for a qualified leased space.
- Preference will be given to businesses that occupy or will occupy at least 4,000 square feet for a minimum of three years.
Eligibility Criteria
For-profit business enterprises, including:
- Businesses occupying commercial offices space and operating in one of the following industries:
- Communications and Design
- Consulting Services
- Education and Research
- Hospitality, Tourism, and Entertainment
- Life Sciences and Health Technology
- Technology (including Innovation and Entrepreneurship)
- Childcare centers
- Educational institutions
- Entertainment (arts, museum, music, sports, theater)
- Grocery stores
- Restaurants
- Retail stores and retail services
- Urgent care centers
For more information, visit DMPED.
