Grants, as mentioned previously, are often difficult to find for small businesses. But there is a grant program for small business property owners in addition to loan programs.
The Small Business Adaptive Reuse Program is a grant program to assist owner-operators in southern Dallas with improvements to buildings and transform them to a new use. This is a reimbursement grant of up to $30,000 to property owners that invest at least $150,000 in private money. And, the following must be followed:
· At least 51% of the building must be used for the property owner’s business
· Buildings may not be larger than 10,000 sq. ft.
· Must be within the area of eligibility (see below)
What is a reimbursement grant?
The cost reimbursement grant is one that reimburses costs. The grant receiver will have already paid for certain costs, and in the case of the Small Business Adaptive Reuse Program, is the City of Dallas then reimburses costs up to a specific amount. The grant specifies what costs can be reimbursed as well as any other stipulations for eligibility.
If you believe you are eligible, or for more information about the Adaptive Reuse Program contact the Office of Economic Development. Or for more grant information read the previous Community Blog post on federal grants or visit the 6th floor of the Dallas Public Library where the Government and Grant Information is located.
