The Downtown Racine Corporation (DRC), is excited to announce the launch of the Downtown Racine Pre-Development Grant Program, designed to encourage new business investment and continued economic growth within downtown Racine.
The program offers eligible businesses up to $5,000 in reimbursement funding to assist with pre-development and business enhancement expenses related to opening or expanding a downtown storefront.
The grant is intended to support entrepreneurs and businesses considering locating within the downtown district by helping offset costs associated with preparing a space for operation and improving customer experience.
Eligible uses may include:
- Feasibility study
- Due diligence (market research, site analysis, environmental assessment, zoning modifications, etc.)
- Financial planning (financial projections, business plan preparation, etc.)
- Early design and technical work (schematic designs, renderings, engineering costs, and design development estimates, materials, utilities, mechanical systems, etc.)
- Legal and organizational (establish an entity, articles of incorporation, bylaws, etc.)
- Early permitting and approvals (secure occupancy permit, obtain food or retail licenses, finalize schematics and other application requirements to obtain municipal approvals, etc.)
Eligible applicants include:
- A for-profit company
- Located in the eligible area
- If not located in the eligible area yet, must have a signed lease or purchase agreement
- First day of operation must be within 18 months of the date of this grant application
- Business operated for more than 2 years in another location and considering a new downtown Racine location
- Occupy a store front on the street grade (first story)
- Business open to the public for a minimum of 32 hours per week.
Applications will be reviewed jointly by the Downtown Racine Corporation Board of Directors and the RCEDC Loan Committee. Funding is limited and applications will be reviewed in scheduled batches until available funds are exhausted.
“Downtown businesses create energy, foot traffic, jobs, and experiences that strengthen our entire community,” said Kelly Kruse, Executive Director of the Downtown Racine Corporation. “This program is designed to help reduce barriers for entrepreneurs and encourage continued investment in our downtown district. We want to support businesses that are willing to take that next step and become part of downtown Racine’s momentum and growth.”
Businesses interested in applying can find program details and application materials through the https://rcedc.org/city-of-racine-downtown-grant-program/
Questions regarding the grant program or completed applications should be directed to Andrea Safedis at RCEDC. (andrea@rcedc.info)
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About Downtown Racine Corporation
Downtown Racine Corporation, a non-profit whose mission is to foster economic, social, and cultural diversity by stimulating business development, programming events, and marketing downtown to the community, developers, and tourists.