The Metropolis of Raleigh has opened the fourth and last utility window for its 2024–2025 Constructing Up-fit Grant program. The present cycle started on Thursday, April 3, and runs by 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 house owners 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 development prices. Initiatives should embrace capital enhancements and a change in use to qualify.
Candidates have to be small enterprise house owners with 49 or fewer workers and should occupy the area being upgraded, both by possession or a lease settlement of at the least three years. Franchises, residential properties, and companies positioned outdoors Raleigh are usually 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 offer a proper utility. Solely purposes submitted in the course of the energetic grant window will probably be thought-about.
Initiatives that qualify for funding embrace upgrades to HVAC, electrical techniques, lighting, plumbing, inside development, restrooms, flooring, and structural modifications. Accessibility enhancements, vitality effectivity upgrades, and different work that meets code necessities might also be eligible.
Grant funds are awarded after venture completion and require submission of paid invoices and receipts. All initiatives should require permits and should not start previous to grant approval.
Sure varieties of work don’t qualify, together with like-for-like tools replacements, easy redecorating, signage, exterior enhancements, and the acquisition of private or retail objects not tied to the development venture. Ineligible initiatives 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Examples of eligible adjustments embrace changing vacant buildings into energetic workplace areas, remodeling outdated warehouses into eating places, or modifying empty retail area for specialty manufacturing. Initiatives that activate adjoining vacant areas or broaden a present business use to incorporate higher-value actions might also qualify.
Grant Limits and Restrictions
Solely two grants are permitted per business property inside a single calendar 12 months. Enterprise house owners might obtain just one grant inside a three-year interval. Enterprise house owners who have been beforehand denied funding are eligible to reapply in future cycles.
This system prioritizes initiatives inside designated Precedence Areas for Financial Improvement. Companies in these zones might qualify for enhanced funding phrases and quantities.
For companies in search of extra exterior upgrades, Raleigh gives a separate Facade Rehabilitation Grant that may generally be paired with the Constructing Up-fit Grant, relying on the venture and placement.
Extra Data
Full eligibility necessities, program brochures, and FAQs can be found by the Metropolis of Raleigh’s web site. candidates are strongly inspired to evaluation these assets earlier than making use of.
