The Metropolis of Raleigh has opened the fourth and ultimate software window for its 2024–2025 Constructing Up-fit Grant program. The present cycle started on Thursday, April 3, and runs by way 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. Tasks should embody capital enhancements and a change in use to qualify.
Candidates have to be small enterprise homeowners with 49 or fewer workers and should occupy the area being upgraded, both by way of possession or a lease settlement of no less than three years. Franchises, residential properties, and companies situated exterior Raleigh are usually not eligible.
Eligibility and Utility Course of
To start the method, potential candidates should first full a preliminary kind to find out eligibility. Metropolis employees will contact eligible candidates through electronic mail to supply a proper software. Solely functions submitted through the energetic grant window can be thought-about.
Tasks that qualify for funding embody upgrades to HVAC, electrical methods, lighting, plumbing, inside building, restrooms, flooring, and structural modifications. Accessibility enhancements, vitality effectivity upgrades, and different work that meets code necessities may 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 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 gadgets not tied to the development mission. Ineligible tasks additionally embody work that doesn’t represent a change of use or add vital worth to the property.
Examples of eligible adjustments embody changing vacant buildings into energetic workplace areas, remodeling outdated warehouses into eating places, or modifying empty retail area for specialty manufacturing. Tasks that activate adjoining vacant areas or develop 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 12 months. Enterprise homeowners might 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 Improvement. Companies in these zones might qualify for enhanced funding phrases and quantities.
For companies in search of further exterior upgrades, Raleigh gives a separate Facade Rehabilitation Grant that may typically be paired with the Constructing Up-fit Grant, relying on the mission and site.
Extra Info
Full eligibility necessities, program brochures, and FAQs can be found by way of the Metropolis of Raleigh’s web site. candidates are strongly inspired to evaluate these sources earlier than making use of.
