The program includes the following components:
- Facade / Property Improvement Grant Program – Allows for an 80% County/20% Business match on projects that include enhancements to existing business façade elements, such as general external building design, signage, and aesthetic improvements. Based on available funds, the maximum amount of county participation in this program is $200,000.
- Business Development / Redevelopment Grant Program – Allows for a 50% County / 50% Business match for business-led, non-facade financial assistance on redevelopment projects in BMSD. This program’s maximum county participation is $300,000 based on available funding.
- Demolition Matching Grant Program – This program allows local governments and non-profits to apply for funding to remove dangerous structures and sites on their own without waiting for the county government. This can assist in blight eradication and removal of unsafe buildings through a 50% County / 50%, which is excellent news!
- Strategic Land Assembly Program – Allows for county assembly of properties in order to create bigger tracts of land or green space that can be developed depending on the commercial corridors.
- Revolving Loan Program – A short-term/gap financing strategy intended to boost longevity and expand current BMSD firms’ operations. A third-party lending company will run the Revolving Loan Program, which will be chosen through a County procurement procedure.