San Diego Redevelopment Agency Funds Storefront Improvement Program for Redevelopment Project Areas

May 18, 2010 - PRLog -- SAN DIEGO, Calif. — The San Diego Redevelopment Agency board reaffirmed its commitment to strengthen commercial neighborhoods and support local businesses when it approved guidelines and funding for the Storefront Improvement Program for Redevelopment Project Areas. The program offers financial assistance to property owners and business tenants interested in enhancing their storefronts to increase foot traffic and eliminate blight.

“The Storefront Improvement Program is another tool we will use to achieve the goals and objectives of both redevelopment and economic development,” said Janice Weinrick, deputy executive director of the Redevelopment Agency. “It makes our communities more appealing, and gets residents excited about their local businesses, which results in increased patronage, business retention and ultimately, jobs.”

Agency staff worked with City staff and the community to structure a program that meets the specific needs of small businesses within redevelopment project areas. Recognizing the challenges of a somewhat thawing capital market and the tight budgets typical of small businesses, the agency’s program is set up to provide financial assistance in larger amounts and at an accelerated pace.

The program is managed by the City’s Office of Small Business on behalf of the Redevelopment Agency. The Office of Small Business also runs the citywide Storefront Improvement Program.

Program Benefits and Eligible Improvements
A participating property owner or business tenant can work with the program’s on-call architect for up to ten hours—at no charge—to prepare a single-color conceptual design of the proposed storefront improvement. The conceptual design can then be used to solicit contractor bids and obtain permits and approvals from the City.

Financial assistance is provided in the form of a forgivable loan. The amount of the loan may be up to two-thirds of the total project cost, up to $20,000 for properties with a standard storefront (one to two units) and up to $40,000 for properties with multiple storefronts (three or more units). Properties designated as historical can apply for an additional incentive of $10,000. The participant can opt to receive the loan at the completion of the project or a portion during the construction of the project.

Eligible improvements under the Storefront Improvement Program include painting, lighting, windows, doors, stucco, tile, signage, canopies, awnings, and restoration of historic properties.

Who Is Eligible and How to Apply
This program is open to property owners and business tenants in redevelopment project areas managed by the City Redevelopment Division. The property must have a ground-floor storefront in need of improvements. Participants must implement façade enhancements that have the potential to further community revitalization and are consistent with all applicable policies and regulations.

For additional details on eligibility, contact:

STOREFRONT IMPROVEMENT PROGRAM
FOR REDEVELOPMENT PROJECT AREAS
ATTENTION: PROGRAM MANAGER
CITY OF SAN DIEGO
1200 THIRD AVENUE, SUITE 1400, MS 56D
SAN DIEGO, CA 92101
(619) 236-6460
www.sandiego.gov/storefront  

About the Redevelopment Agency of the City of San Diego
The Redevelopment Agency of the City of San Diego, created by the City Council in 1958, uses special legal and financial mechanisms to eliminate blight and improve economic and physical conditions in designated areas of the City. The Agency’s purview encompasses 17 project areas, one study area, and affordable housing. Activities within the project areas are carried out by the City Redevelopment Division and two public, nonprofit City corporations: Centre City Development Corporation (CCDC) and Southeastern Economic Development Corporation (SEDC). The City Redevelopment Division also administers seven Project Area Committees (PAC) that advise the Agency on the adoption of redevelopment plans and implementing redevelopment projects. For more information, visit: http://www.sandiego.gov/redevelopment-agency/