Donor Name: City of Boulder
State: Colorado
City: Boulder
Type of Grant: Grant
Deadline: 10/07/2024
Size of the Grant: $300,000
Details:
The Affordable Commercial Grant Pilot Program is intended to help address a gap in the market for more affordable commercial space and increase opportunities for local small businesses to thrive in the commercial centers. Owners of commercial buildings, managers of commercial properties, and business ventures proposing new, expanded, or repurposed uses for currently vacant commercial spaces, or redeveloped facilities offering retail, office, or industrial space at below-market rates are encouraged to apply. The grants represent a partnership opportunity between private commercial property owners or managers and the City of Boulder to provide more affordable options for local small businesses, including women-owned and minority-owned businesses, and other groups that were most affected by the COVID-19 pandemic.
Funding Information
- Total funds: $850,000.
- Awards: $300,000 maximum.
Eligibility Requirements
To be eligible for the Affordable Commercial Pilot Grant Program, applicants must meet the following criteria:
- Project Scope: Eligible projects include both capital expenditures and initiatives designed to provide rent subsidies to tenants. Projects must be structured to ensure long-term affordability for tenants.
- Location: The project site must be within the city limits of Boulder as described in the Boulder Valley Comprehensive Plan.
- Applicant Status: Applicants must be property owners, commercial property managers, or business ventures with legal authority to execute a commercial lease. Eligible applicants must have a City of Boulder business license.
- Multiple Tenants: Projects that have multiple tenants such as open shared retail or office facilities, incubator spaces, micro-retail facilities, or similar models are eligible for the program. All spaces and tenants in the facility must meet the criteria below and be provided with the discount from the grant recipient described in this grant.
- Capital Projects: Any project that would enhance the space for the tenant, including, but not limited to: energy efficiency improvements, equipment purchases, overall tenant finishes, etc. For the purposes of this program, a “capital project” must:
- Have a discrete start and end date.
- Be location specific.
- Have a total project cost of $50,000 or more.
- Must result in a durable, long-lasting asset with a useful life of at least 15 years.
- Contracting: All grant recipients will be required to enter into a contract with the city in a form approved by the City Attorney’s Office that outlines the parameters for use of the grant funds.
- ARPA Funding: Anyone receiving more than $25,000 in ARPA funding also needs to be registered in Sam.Gov and have a UEI number. Registration is free.
For more information, visit City of Boulder.
