The Greater Lockport Development Corporation (GLDC), has issued a “last call” for applications for the City of Lockport Downtown Revitalization’s Small Project Fund.
Applications from city commercial property and/or business owners seeking funding to help improve their properties are due by 4 p.m. Thursday.
The City of Lockport was awarded $10 million as part of New York State’s Downtown Revitalization Initiative (DRI) program in 2018.
As part of this initiative, a Small Project Fund of $519,000 has been set aside for the redevelopment, rehabilitation, and/or historic preservation of commercial properties within a designated DRI target area. Grants will range between $10,000 and $100,000, with a dollar-for-dollar match requirement ($50,000 owner investment required for a $50,000 grant) from the property or business owner. Eligible costs may include interior and exterior renovations; structural improvements; creation of residential units; and signage. Ineligible expenses may include, but are not limited to: new construction; demolition; and purchase of equipment.
GLDC President Brian Smith stressed that this will be an extremely competitive process, as grant requests from applications already received well exceed the fund’s $519,000 balance. Therefore, applications that best demonstrate that their projects do the following will be given strongest consideration: ensure existing structures are secure; improve the appearance of downtown; draw activity to the area; create residential units; reuse underutilized properties; preserve and enhance historical buildings; contribute to the economic recovery of downtown; and/or realize a stabilization or expansion of downtown businesses.
Commercial properties must be located within the DRI Target Area to be eligible for funding. A map of the DRI target area, along with other information on the City of Lockport’s Downtown Revitalization Initiative can be found https://lockportny.gov/lockport-downtown-revitalization-initiative-dri/.
Questions on eligibility for the Small Project Fund should be directed to: Brian Smith at: 716-439-6688 or firstname.lastname@example.org.
Applications for the Small Project Fund can be found on the City of Lockport’s website at: https://lockportny.gov/gldc/.