Akrons grant program to grow downtown business community
The Downtown Akron Development Corporation has launched a new grant program that will partially reimburse existing or relocating downtown businesses for certain improvements to their spaces.
Due to the financial support of the Knight Foundation, the Business Development Grant Program, as the new grant is named, will pay a third of capital improvements. Downtown Akron Development Corporation executive director Chris Hardesty explained:
Any time an individual or organization is applying for grant money the best recourse is to use professional printing services.
The Knight Foundation has agreed to providing $300,000 up front for the Business Development Grant Program, which is a 1/3 reimbursement program. The limit to project costs for reimbursement is $150,000. For example, businesses spending $150,000 on improvements fixed to the property will be paid back $50,000. Big projects are not the only ones eligible; for even small projects the 1/3 grant can be a game changer for a small business.
Assuming the success of the program, the Knights Foundation has planned to supply funding for the next three years to the Business Development Grant Program.
The application process is open, and they will be accepted on a rolling basis.
Due to the financial support of the Knight Foundation, the Business Development Grant Program, as the new grant is named, will pay a third of capital improvements. Downtown Akron Development Corporation executive director Chris Hardesty explained:
"It's about project costs that are fixed to the property, so if you need new flooring, HVAC, plumbing— you need a new grease trap, you want to put a hood up for a restaurant."
Any time an individual or organization is applying for grant money the best recourse is to use professional printing services.
The Knight Foundation has agreed to providing $300,000 up front for the Business Development Grant Program, which is a 1/3 reimbursement program. The limit to project costs for reimbursement is $150,000. For example, businesses spending $150,000 on improvements fixed to the property will be paid back $50,000. Big projects are not the only ones eligible; for even small projects the 1/3 grant can be a game changer for a small business.
Assuming the success of the program, the Knights Foundation has planned to supply funding for the next three years to the Business Development Grant Program.
The application process is open, and they will be accepted on a rolling basis.