Raleigh’s Final Call for Building Up-fit Grant Applications
The City of Raleigh has recently opened its final application window for the 2024–2025 Building Up-fit Grant Program. This unique initiative aims to support local small businesses in making significant interior improvements to their commercial properties, ultimately boosting economic development within the city.
What the Building Up-fit Grant Offers
Designed to promote job creation and revitalize underused spaces, the program will allow small business owners to receive matching reimbursements for up to 50% of qualifying construction costs. This financial assistance is particularly impactful for businesses that occupy their upgraded spaces and have fewer than 50 employees. Eligible projects include enhancing HVAC systems, plumbing, and electrical work, among other approved improvements.
The Application Process: Steps to Secure Funding
To qualify, applicants need to first complete a preliminary form assessing their eligibility, after which they will be contacted for a formal application. Businesses need to ensure that their projects either represent a significant change of use or enhance the property's value. Furthermore, businesses that have applied but were denied funding in past cycles are welcome to reapply.
Grant Limits and Additional Opportunities
Within each calendar year, a single commercial property can receive a maximum of two grants, with only one grant allowed per business over a three-year period. For those seeking exterior enhancements, Raleigh also offers the Facade Rehabilitation Grant, which may sometimes complement the Up-fit Grant.
Prioritize Your Application
For the best chance of success, businesses located in economically designated Priority Areas will receive preferential consideration for funding. The application window remains open through April 27, and early submission is encouraged. Applicants must ensure they have thoroughly reviewed eligibility requirements and program details available on the City of Raleigh’s official website.
For small business owners eager to enhance their work environment, applying for the Building Up-fit Grant represents an invaluable opportunity to invest in their commercial spaces while receiving financial support from the city. Don’t miss this opportunity to boost your business and contribute to the local economy!
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