City of Albuquerque: Downtown Storefront Activation Grant
Funded through the American Rescue Plan Act, the Downtown Storefront Activation Grant Program is designed as an economic recovery program aimed to increase the vibrancy of Downtown Albuquerque. The recovery of downtown Albuquerque is essential to the economic vibrancy of the City. The goal of the Downtown Storefront Activation Grant Program is to provide grants to small businesses who occupy vacant storefront spaces, leading to additional commerce and vitality in the district.
Those opening a new storefront or expanding an existing storefront in downtown Albuquerque may qualify for this grant, regardless of previous grant funding received. Find more information at the button below. Eligible Downtown Storefronts are any ground-floor retail orientated commercial space that is at least 1,000 sq. ft. and has a primary entrance directly onto a sidewalk. Existing businesses that are currently occupying an Eligible Downtown Storefront are eligible only if they are expanding their existing footprint by 50% of their original square footage either by expanding their existing footprint or relocating within the Downtown District.
Grant funds are intended to support the success of businesses activating downtown and may be used for the following expenses:
- Tenant Improvements (i.e., construction within the leased space);
- Rent and utilities;
- Inventory /cost of goods sold;
- Furniture, fixtures, and equipment (FFE);
- Employee recruitment, training, and/or compensation; and
- Other business expenses.
Applications will be accepted and evaluated on a rolling basis, and funds awarded on a firstcome-first-served basis until expended.
Amount: $500,000 is available to make grants of up to $30,000. Grantees will receive awarded funds in two installments: 50% of awarded grant funds will be distributed upon grant and lease execution. If the application includes a Letter of Intent, funds will not be distributed until the applicant provides an executed lease; 50% of funds will be distributed after continued occupancy of the storefront space for twelve months.
Note: An additional $5,000 is available to applicants who demonstrate in their application that the business will attract evening (5-10pm) visitation to the Downtown District at least four evenings per week.
Eligibility: Small businesses (less than 250 employees) that activate and occupy vacant street level property, or plan to expand a current downtown street-level footprint by at least 50%, in Downtown Albuquerque. The eligible area is generally defined as the area between Lomas Avenue, Coal Ave, 11th Street and Broadway. Properties on both sides of boundary streets are eligible. See solicitation for map of eligible locations.
If the business has multiple locations, employees at all locations will be counted. Businesses must execute a lease (or lease amendment) after October 1, 2021, with a term of at least two years, for an Eligible Downtown Storefront in the Downtown District. Businesses that are based exclusively on sales of products or services related to adult entertainment, nicotine products, cannabis products, and/or alcohol products are not eligible.
|Funder||City of Albuquerque|
|Eligibility||For Profit Organization|
|Sector||Community Development, Economic Development/Job Training|
|Grant Amount||Up to $30,000|