This application is for the Restore Award Track – Awardees can receive up to $1,000,000 in grants and loans for up to 15 projects that have secured a location, settled on an appropriate growth plan, and created a design and program specific to that location.
Donor Name: Motor City Match
State: Michigan
County: Detroit
Type of Grant: Program
Deadline: 10/01/2022
Size of the Grant: $100,000
Details:
Restore Award track requirements:
Applicants must be an existing businesses proposing a renovations or improvements to a commercial space they have been open and operating in for at least one-year. Applicants must demonstrate financial need and the ability to complete the proposed project with one year of the first grant disbursement including a plan to complete necessary architectural and design drawings, and have a comprehensive project plan with an itemized budget specific to the proposed project location.
Awardees will be selected based on business application scores and supplemental information received.
- Applicants must demonstrate a financial need and lack of access to capital
- A minimum of 10% project equity is mandatory for consideration.
- Award selection is subject to approval by the EDC Board of Directors
- Financial Assistance associated with this award must be accessed through an initial grant disbursement within 1 year of the date of approval by the EDC Board of Directors
Funding Information
The maximum grant award is the lesser of $100,000 or 50% of the total project cost.
Ineligibility
The following individuals are not eligible to apply: Business owners who are:
- employees, elected officials or appointed officials or officers of the City of Detroit government (the City);
- employees or board members of the Detroit Economic Growth Corporation (DEGC);
- employees or board members of the Economic Development Corporation of the City of Detroit (EDC);
- Motor City Match Lending Partners or Jurors;
The following individuals must disclose their status. Upon receipt of an applicant’s disclosure, the EDC will determine whether a conflict of interest exists and if the conflict can be mitigated and/or granted an exemption in accordance with EDC policies and federal regulations.
- contractors affiliated with the Motor City Match program;
- spouses and dependents of
- employees and board members of the City, DEGC, and EDC;
- elected officials or appointed officials or officers of the City of Detroit government (the City)
- contractors affiliated with the Motor City Match program; and
- Motor City Match Lending Partners or Jurors.
For more information, visit Motor City Match.
