Core Retail Enhancement Program

The Core Retail Enhancement Grant Program (the “Program”) is designed to create momentum in the critical task of recruiting and retaining restaurant and retail businesses in the Northbank and Southbank Core Retail Enhancement Areas.

1. Core Retail Program Grant Funding: The Grant offers a maximum grant award of $30 for every square foot leased or occupied by the proposed tenant or business as recommended by DIA staff, the REPD Committee, and approved by the DIA Board. The amount of incentive dollars awarded shall not exceed 50% of the total project construction costs. The application may be made by the property owner, the tenant or jointly by the property owner and the tenant.
    
   • An incentive boost of $5.00 per square foot shall be available to businesses primarily selling goods as opposed to services.
   • An incentive equal to triple-net costs plus $7.00 per sq ft for percentage-rent only deals (not to exceed 7% of gross sales), with $1.00 per sq ft less for every $1.00 per sq ft charged in base rent.

The applicant’s verified expenditures for the improvements must match or exceed the amount of the Grant funding (a minimum of $1 to $1 ratio). The amount of the Grant shall not exceed the $30 for every eligible square foot leased or occupied by the proposed tenant or business.