To encourage relocation of businesses to targeted areas with the city's redevelopment areas and to increase occupancy rates of commercial buildings.
Any existing or targeted new business with the following targeted areas:
Main Street Redevelopment Area: E-Zone
Downtown Redevelopment Area: Beach Street Shopping District
Midtown: MMB & MLK corridor (neighborhood retail and restaurants)
Eligible projects may receive awards of up to one year rent for a minimum two-year lease with no single rent exceeding $6,000.
Rental subsidies may be approved for one-third of the business' monthly rent, up to a maximum of $500 per month. Subsidy payments will be paid in monthly installments for a maximum of 12 consecutive months during the first 18 months of a business' operation. The total subsidy amount will not exceed $6,000 per business. Properties with multiple tenant space may apply for funding based on individual tenant spaces. There is a two-year limit between tenants. An individual business may receive the funding one time.