1. Building Owner/Tenant Investment Requirement:
a. Generally, the CRA will match dollar for dollar based on the amount the building owner invests in tenant improvements up to a maximum amount based on the square footage requirements for tenant improvement reimbursement funding. Funding may also be available for establishments that do not receive building owner funding.
b. The tenant must be investing at least 10% of the eligible tenant improvement costs.
2. Funding Eligibility (Non-Focus Areas – Please see the Program Map):
a. All food service restaurants that are not located in a Focus Area are eligible to receive up to $25 per square foot with a not to exceed funding amount of $100,000.
b. If the building owner does not invest in tenant improvements, the tenant would be eligible to receive up to $25 per square foot with a not-to-exceed funding amount of $75,000 for reimbursement of costs of eligible tenant improvements based on the square foot requirements.
c. If the total eligible funding amount calculated under 2 a and b is less than $75,000, the funding amount automatically defaults to $75,000 for eligible tenant improvements or the difference between the building and restaurant owner’s contribution and eligible build-out costs, whichever is less.
d. Restaurants that will be adding or making improvements to outdoor seating areas are eligible to receive an additional $5 per square foot of the outside seating areas with an additional not-to-exceed funding amount of $25,000.
e. All qualifying restaurants are generally eligible to receive up to $25,000 to assist with Rent costs and Common Area Maintenance costs.
3. Funding Eligibility (Focus Areas – Please see the Program Map):
a. Full-service restaurants within a Focus Area are eligible to receive up to $100 per square foot up to $400,000.
b. Non-full-service restaurants within a Focus Area are eligible to receive up to $50 per square foot up to $100,000.
c. If the building owner does not invest in tenant improvements, the tenant would be eligible to receive up to $25 per square foot with a not-to-exceed funding amount of $75,000 for reimbursement of costs of eligible tenant improvements based on the square foot requirements.
d. If the total eligible funding amount calculated under 3 a, b, or c is less than $75,000, the funding amount automatically defaults to $75,000 for eligible tenant improvements or the difference between the building and restaurant owner’s contribution and eligible build-out costs, whichever is less.
e. Restaurants that will be adding or making improvements to outdoor seating areas are eligible to receive an additional $5 per square foot of the outside seating areas with an additional not-to-exceed funding amount of $25,000.
f. All qualifying restaurants are generally eligible to receive up to $50,000 to assist with Rent costs and Common Area Maintenance costs.