Please see the flyer for Open House times & location as well as contact information for the program.
Below is an overview of the program:
DEMONSTRATION GRANT PROGRAM CRITERIA
Funding for downtown building improvements
Program Goals
- Serve as a catalyst and showcase for revitalization and redevelopment
- Increase retail vitality and footprint utilization
- Bring new, or expand existing business into the downtown core
It is the intent of this program to enhance the character and identity of a proposed impact area. We see opportunities to enhance storefronts and buildings so they create interest and draw people to the area. We believe these investments should be attractive to consumers, perhaps enhancing outdoor and sidewalk use for consumers or adding creative amenities that stimulate consumer engagement in the area. By offering funding for multiple properties/projects in a targeted area the program aims to create an immediate and visible impact, resulting in a more marketable retail, office, and housing environment.
Requirements
1. Projects requesting funding consideration must meet the following minimum requirements:
- Be located within the downtown core area (bound by Union Street NE, High Street NE, Ferry Street NE, and Front Street NE)
- Properties receiving the benefit of RDURA dollars must be current on all of their downtown assessments, i.e. Parking Tax, Property Tax, Economic Improvement District Tax, Urban Renewal Loan, etc.
- Soft and hard costs directly associated with capital improvements supporting the above goals are eligible.
2. Projects receiving an allocation of Demonstration Grant Program funds will be selected through a Request for Proposal process according to Public Contracting Rule 4.3. The draft evaluation criteria for the Demonstration Grant Program is as follows and will be finalized to ensure compliance with all applicable City and State purchasing rules.
Evaluation Criteria-100 Points
Maximum Points Available
Ability of project to impact square footage – by reducing existing building vacancy, and constructing new space in a current vacant location or a combination thereof 12
Impact on tax values within the Riverfront Downtown Urban Renewal Area – please note that for projects including multiple properties/buildings, the combined tax values will be used for assessment 20
Demonstrated leverage of public funds – this is directly related to the ratio of public funds to private funds, i.e. the more private funds in comparison to the public funds the higher the score 10
Project Timeline – this is directly related to a project’s readiness to proceed and schedule for project completion 10
Demonstrated relationship of project to Demonstration Program goals 18
Demonstrated ability of project team to complete the proposed project – this includes experience, qualifications, and timeline 10
Project Budget – sufficient data to evaluate financial feasibility and need for funding 10
Ability of project to create new jobs or recruit new business 5
Ability of project to integrate housing and/or upper floor development 5