The Seattle Office of Economic Development is seeking applications for the Tenant Improvement Fund for economic recovery of businesses affected by COVID-19.
Donor Name: Seattle Office of Economic Development
State: Washington
City: Seattle
Type of Grant: Grant
Deadline: 09/08/2022
Size of the Grant: up to $100,000
Details:
The Seattle Office of Economic Development (OED) is investing $1.9 million for tenant improvement grants that will support small businesses impacted by COVID-19. The lack of affordable commercial spaces across the city for small business owners — particularly for Black, Indigenous, people of color (BIPOC) communities are a result of ongoing systemic barriers such as lack of access to capital, displacement, discrimination, inequitable public policy, and more. The pandemic exacerbated both the rise in commercial vacancies propelled by online retail and shifts to online and home-based work in some industries, and the continued challenges BIPOC communities face to acquire affordable commercial spaces.
The Tenant Improvement Fund will:
- Respond to an immediate need to fill empty storefronts within city to support the economic recovery of Seattle through inclusive and intentional investments.
- Fill gaps in existing funding for commercial space improvements.
- Support wealth generation for business owners.
- Provide accessible and in-language commercial space technical knowledge and resources, and
- Give businesses access to expedited permitting services and consultant resources to assist with project needs such as space planning, assistance in talking with a landlord, assistance in selecting a general contractor, and managing the build-out process. (Consultant assistance will be provided with 10 initial hours at no cost to the business.)
Funding Information
- Eligible small businesses can receive up to $100,000. Total grant amount is determined by actual project need and the demonstration of negative COVID impacts to the business.
Eligibility Criteria
To qualify for the Tenant Improvement Fund, eligible small businesses must:
- Be a for-profit business that is independently owned, non-franchise and non-chain business located within the Seattle city limits.
- Have experienced direct economic disruption because of COVID-19.
- Have an active City of Seattle Business License.
- Have filed City Business and Occupation (B&O) taxes and paid taxes in full if owed or comply within two months of selection.
- Began operating business prior to 2019 or if project is a startup, applicant must have prior business experience or industry experience.
- Plan for the tenant improvement project to be located within Seattle city limits.
For more information, visit Seattle Office of Economic Development.