With the approval of the Fiscal Year 2020-21 CRA Budget, the CRA Board approved additional funds for the creation of a recruitment grant to target those businesses identified in the Retail Gap Analysis that was conducted as part of the Market Analysis performed by Arnett/Muldrow & Associates in the previous fiscal year.  The grant will provide enhanced incentives for those business types identified in the analysis as providing goods which local residents are purchasing and need to travel outside our trade area to find.  These targeted business types are:

• Home Décor & Home Gifts
• Jewelers
• Art & Music Galleries  
• Stationary & Flower shops
• Clothing, Apparel, Shoes and Accessories  
• Sporting Goods
• Book Stores
• Specialty Brewers  
• Wine Shops 
• Bicycle Sales, Rental, Repair  
• Hobbies
• Gifts

The proposed incentives include rental assistance in the form of 100% reimbursement or $2,000, which ever is less, for the first three (3) months of operations, 75% reimbursement or $1,500, which ever is less, for the second three (3) months, and 50% reimbursement or $1,250, which ever is less, for the remainder of the first year.  In addition to this, a targeted retailer would be eligible to participate in the Commercial Interior Build-out Grant Program which will award 75% of the build-out costs up to $25,000 and the Commercial Façade Improvement Grant Program which will award 75% of the exterior improvement costs up to $25,000.

Other grant program changes that are being proposed include:

• Grants are to be considered "awards" rather than "reimbursements."  "Reimbursement" meant that the recipient had to pay for the cost of the improvements out of their own accounts and could not have a benefactor or other source pay for the improvements.  Our concern is not who paid for the improvements, just that the improvements are completed to our satisfaction and all contractors and suppliers are paid.
• Rather than 5 years between Façade Improvement Grant and Interior Build-out Grant awards, a location/address will be eligible for up to $25,000 within a two year time frame. If the first grant received is less than $25,000, (Ex. $15,000) that location/address will still be eligible for the balance up to $25,000 (Ex. $10,000) within the two year time frame.  The two year wait will not begin until the second grant is awarded and the $25,000 limit has been reached.  If the second grant is never applied for/awarded, in this example, the location/address would be eligible for $25,000 two years after the initial grant of $15,000.