The Commercial Buildout Improvement Grant aims to enhance the interiors of commercial buildings in Downtown Decatur.
Donor Name: City of Decatur
State: Georgia
City: Decatur
Type of Grant: Grant | Reimbursement
Deadline: 11/15/2024
Size of the Grant: $1000 to $10,000
Grant Duration: Grant Duration Not Mentioned
Details:
This program benefits various business types, such as retail, restaurants, bakeries, and breweries, by improving interior spaces.
The program offers approved business owners the opportunity to receive a reimbursement in the form of a grant. The maximum CBIG participation is $10,000, and the minimum is $2,500. The program will provide a 75/25 matching grant, with 75% of the project expenses reimbursed through the CBIG program, up to $10,000, and 25% of the costs incurred by the applicant.
Eligible Scopes of Work
These project types are eligible for consideration for the CBIG:
- Wall improvement/repair
- Floor improvement/repair
- Ceiling improvement/repair
- HVAC installation/repair
- Sprinkler system installation/improvement
- Fire alarm system improvement
- Plumbing repair/replacement
- Grease trap replacement
Qualifying Project Criteria
- Project feasibility: The project must be realistic and based on market conditions.
- Project compliance: The project must meet local codes and design standards, including treating historic building materials and securing necessary permits.
- Project scope: The project must improve the internal space of the property to the benefit of the current tenant as well as future tenants. If the project will only benefit the current tenant, the existing business/grant recipient must remain open in the location for at least two years from receipt of grant funds. Suppose the applicant closes or sells the business before two years. In that case, the applicant must pay back funds to the Decatur Development Authority at a prorated amount based upon the difference in the date of closure or sale from 24 months.
Applicant Eligibility Criteria
Eligible applicants must be a City of Decatur business or commercial property owner who meets these criteria:
- The business or commercial property must be located in the City of Decatur.
- The business or commercial property owner has paid all appropriate taxes, fees, and other assessments, including property taxes, business license fees, occupation taxes, and ad valorem taxes.
- No outstanding judgments against the business or commercial property (owner).
- No current bankruptcy proceedings are instituted by or against the business or property owner, and no current assignments are made by the business or commercial property for the benefit of creditors.
- No state or federal tax liens are pending against the business or the commercial property.
- Financial ability to commit matching grants
- Eligibility includes small businesses that operate no more than three stores in Georgia and employ 25 or fewer people to further qualify under these criteria:
- Retail and restaurant: Annual receipts do not exceed $3.5 million
- Personal and professional services: Annual receipts do not exceed $3.5 million.
For more information, visit City of Decatur.
