The Metropolis of Raleigh has opened the fourth and remaining utility window for its 2024–2025 Constructing Up-fit Grant program. The present cycle started on Thursday, April 3, and runs via 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 development prices. Initiatives should embrace capital enhancements and a change in use to qualify.
Candidates should be small enterprise homeowners with 49 or fewer workers and should occupy the house being upgraded, both via possession or a lease settlement of no less than three years. Franchises, residential properties, and companies situated outdoors Raleigh are usually not eligible.
Eligibility and Utility Course of
To start the method, potential candidates should first full a preliminary type to find out eligibility. Metropolis employees will contact eligible candidates through e mail to offer a proper utility. Solely purposes submitted in the course of the energetic grant window will probably be thought of.
Initiatives that qualify for funding embrace upgrades to HVAC, electrical techniques, lighting, plumbing, inside development, restrooms, flooring, and structural modifications. Accessibility enhancements, power effectivity upgrades, and different work that meets code necessities may be eligible.
Grant funds are awarded after undertaking completion and require submission of paid invoices and receipts. All tasks should require permits and should not start previous to grant approval.
Sure sorts of work don’t qualify, together with like-for-like gear replacements, easy redecorating, signage, exterior enhancements, and the acquisition of non-public or retail objects not tied to the development undertaking. Ineligible tasks additionally embrace work that doesn’t represent a change of use or add important worth to the property.
Examples of eligible modifications embrace changing vacant buildings into energetic workplace areas, remodeling outdated warehouses into eating places, or modifying empty retail house for specialty manufacturing. Initiatives that activate adjoining vacant areas or increase a present industrial use to incorporate higher-value actions may qualify.
Grant Limits and Restrictions
Solely two grants are permitted per industrial property inside a single calendar yr. Enterprise homeowners could obtain just one grant inside a three-year interval. Enterprise homeowners who have 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 looking for extra exterior upgrades, Raleigh presents a separate Facade Rehabilitation Grant that may generally be paired with the Constructing Up-fit Grant, relying on the undertaking and site.
Extra Data
Full eligibility necessities, program brochures, and FAQs can be found via the Metropolis of Raleigh’s web site. candidates are strongly inspired to assessment these sources earlier than making use of.
