The Metropolis of Raleigh has opened the fourth and closing utility 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, Could 16.
The Constructing Up-fit Grant is an identical reimbursement initiative that assists small enterprise homeowners with inside enhancements to industrial 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. Initiatives should embody capital enhancements and a change in use to qualify.
Candidates should 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 a minimum of three years. Franchises, residential properties, and companies positioned outdoors Raleigh will not be eligible.
Eligibility and Software Course of
To start the method, potential candidates should first full a preliminary type to find out eligibility. Metropolis employees will contact eligible candidates by way of electronic mail to offer a proper utility. Solely purposes submitted through the energetic grant window shall be thought of.
Initiatives that qualify for funding embody upgrades to HVAC, electrical techniques, lighting, plumbing, inside building, 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 mission completion and require submission of paid invoices and receipts. All tasks 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 non-public or retail objects not tied to the development mission. Ineligible tasks additionally embody work that doesn’t represent a change of use or add important worth to the property.
Examples of eligible modifications embody changing vacant buildings into energetic workplace areas, remodeling outdated warehouses into eating places, or modifying empty retail area for specialty manufacturing.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 develop a present industrial use to incorporate higher-value actions might also qualify.
Grant Limits and Restrictions
Solely two grants are permitted per industrial property inside a single calendar 12 months. Enterprise homeowners could obtain just one grant inside a three-year interval. Enterprise homeowners who had been beforehand denied funding are eligible to reapply in future cycles.
This system prioritizes tasks inside designated Precedence Areas for Financial Growth. Companies in these zones could qualify for enhanced funding phrases and quantities.
For companies in search of further exterior upgrades, Raleigh presents a separate Facade Rehabilitation Grant that may generally be paired with the Constructing Up-fit Grant, relying on the mission 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 overview these sources earlier than making use of.
