The Metropolis of Raleigh has opened the fourth and ultimate software window for its 2024–2025 Constructing Up-fit Grant program. The present cycle started on Thursday, April 3, and runs by means of Sunday, April 27. Award notifications are anticipated by Friday, Might 16.
The Constructing Up-fit Grant is an identical reimbursement initiative that assists small enterprise homeowners with inside enhancements to business properties inside Raleigh metropolis limits. Designed to advertise job creation, financial improvement, and the revitalization of underused areas, the grant matches as much as 50 p.c of certified building prices. Tasks should embrace capital enhancements and a change in use to qualify.
Candidates have to be small enterprise homeowners with 49 or fewer workers and should occupy the area being upgraded, both by means of possession or a lease settlement of at the very least three years. Franchises, residential properties, and companies situated outdoors Raleigh usually are not eligible.
Eligibility and Software Course of
To start the method, potential candidates should first full a preliminary kind to find out eligibility. Metropolis workers will contact eligible candidates by way of electronic mail to supply a proper software. Solely functions submitted through the lively grant window will probably be thought-about.
Tasks that qualify for funding embrace upgrades to HVAC, electrical methods, lighting, plumbing, inside building, restrooms, flooring, and structural modifications. Accessibility enhancements, vitality effectivity upgrades, and different work that meets code necessities may be eligible.
Grant funds are awarded after undertaking completion and require submission of paid invoices and receipts. All tasks should require permits and should not start previous to grant approval.
Sure sorts of work don’t qualify, together with like-for-like tools replacements, easy redecorating, signage, exterior enhancements, and the acquisition of private or retail gadgets not tied to the development undertaking. Ineligible tasks additionally embrace work that doesn’t represent a change of use or add vital worth to the property.
Examples of eligible adjustments embrace changing vacant buildings into lively workplace areas, remodeling outdated warehouses into eating places, or modifying empty retail area for specialty manufacturing. Tasks that activate adjoining vacant areas or increase a present business use to incorporate higher-value actions may qualify.
Grant Limits and Restrictions
Solely two grants are permitted per business property inside a single calendar 12 months. Enterprise homeowners might obtain just one grant inside a three-year interval. Enterprise homeowners who have been beforehand denied funding are eligible to reapply in future cycles.
This system prioritizes tasks inside designated Precedence Areas for Financial Improvement. Companies in these zones might qualify for enhanced funding phrases and quantities.
For companies searching for further exterior upgrades, Raleigh provides a separate Facade Rehabilitation Grant that may typically be paired with the Constructing Up-fit Grant, relying on the undertaking and placement.
Extra Info
Full eligibility necessities, program brochures, and FAQs can be found by means of the Metropolis of Raleigh’s web site. candidates are strongly inspired to assessment these assets earlier than making use of.