One of the many recurring discussions in the city is that there’s a feeling that new businesses get more support than those who have been in the city and stuck it out.
With the aim of giving neighborhood businesses the attention they deserve, Mayor Mike Duggan announced today a new program from the City of Detroit and The Detroit Economic Growth Corporation (DEGC) called Motor City Re-Store.
The first round of Motor City Re-Store will start on Thursday, June 15 when the application process opens.
Applications will be accepted until Tuesday, August 1. The first awards will be announced in the fall.
The program will be providing $500,000 in matching grants every quarter to qualifying business owners and landlords that want to do upgrades to the facades, parking lots and streetscapes. These matching grants can be for as much as $25,000.
Businesses and landlords that are picked for Motor City Re-Store will receive a 50% matching grant. If multiple businesses apply as a group they will receive a 75% matching grant for their project.
Among other requirements, in order to receive this funding a business must already be open in the City of Detroit and they also must stay in that location for at least five years after getting the funding for improvements.
The goal of Motor City Re-Store is to revitalize the neighborhood business districts by making them more walkable and attractive. This not only helps those living in the neighborhoods, but also attracts people who might just be driving by.
“The small neighborhood businesses that have hung in there over the years and have sustained our city are part of Detroit’s revitalization. That’s why we created Motor City Re-Store,” said Mayor Duggan. “This is how we are going to bring our city back, by supporting our existing businesses and residents as we welcome new ones to our neighborhoods.”
The program has been funded through a variety of sources. They include U.S. Department of Housing and Urban Development Community Development Block Grants (CDBG), the City of Detroit, The Erb Family Foundation, the New Economy Initiative, Invest Detroit, and the Kresge Foundation.
The Economic Development Corporation of the City of Detroit approved the funding to the program on Tuesday, June 13.
If you’re interested in finding out more about the program, there will be two information sessions for Motor City Re-Store for business owners and landlords. You can register for one of the two sessions here.
June 22, 2017, 6:00 p.m. – 8:00 p.m. at Good Cakes and Bakes, 19363 Livernois Avenue, Detroit
June 29, 2017, 6:00 p.m. – 8:00 p.m. at Matrix/Osborn Neighborhood Alliance, 13560 E. McNichols Street, Detroit
