Building Up-fit Grant for Small Business Owners in North Carolina

The Building Up-fit Grant for Small Business Owners in North Carolina is an initiative by the City of Raleigh aimed at fostering economic growth and revitalization within the community. This grant is designed to assist property owners in activating vacant or underutilized commercial spaces by funding improvements that create new business uses or generate new jobs. The program operates as a matching reimbursement scheme, where the city will match up to 50 percent of the qualified construction costs incurred by small business owners. The primary purpose of the Building Up-fit Grant is to encourage the enhancement of commercial properties in Raleigh. By focusing on interior improvements, the grant supports various capital projects that may include upgrades to HVAC systems, electrical work, lighting, plumbing, structural changes, interior construction, flooring, restrooms, and accessibility modifications. Additionally, energy-efficient upgrades and compliance with applicable code requirements are also eligible for funding. The overarching goal is to stimulate economic development, expand the tax base, and create job opportunities within the city. Eligibility for the grant is limited to small business owners who employ 49 or fewer individuals and operate within the city limits of Raleigh. Applicants must demonstrate that their proposed improvements align with the city’s policy objectives. This focus on small businesses underscores the city’s commitment to supporting local entrepreneurs and enhancing the overall economic landscape. Submission requirements for the grant are not explicitly detailed in the provided information. However, interested applicants are encouraged to reach out to the grant administrator for further guidance. The contact person for inquiries is Carl Brooks II, who can be reached via email at Carl.BrooksII@raleighnc.gov or by phone at 919-996-6959. It is advisable for potential applicants to prepare any necessary documentation that demonstrates their eligibility and outlines their proposed project. The evaluation criteria for the grant have not been specified, but it is likely that applications will be assessed based on their alignment with the program's objectives, the potential impact on the community, and the feasibility of the proposed improvements. As the grant is forecasted and in the early engagement stage, specific timelines and deadlines for application submission have not been established. However, the current deadline for applications is set for October 13, 2024. In summary, the Building Up-fit Grant represents a valuable opportunity for small business owners in Raleigh to secure funding for property improvements that can lead to economic revitalization. By investing in their commercial spaces, applicants can contribute to the growth of their businesses while also enhancing the community's overall economic health. Interested parties should stay informed about the application process and prepare to submit their proposals by the stated deadline.