Approving adjustments to the Building Improvement Grant Program.

Summary

The City of Madison's Building Improvement Grant Program is undergoing adjustments, as indicated by the agenda item title. The provided documents detail the application process and program summary for the Building Improvement Grant (BIG) program, which is funded through Tax Increment Financing (TIF). The program offers grants of up to $50,000 for eligible interior and exterior improvements to independent retail, restaurant, and retail service businesses. Eligible improvements include HVAC, electrical, plumbing, ADA compliance, restroom construction, structural repairs, flooring, lighting, windows, doors, historic restoration, loading dock/storeroom improvements, and "green" upgrades. Design, architectural, and permit fees are also eligible. The program requires businesses to be at least 51% owned by Dane County residents or meet specific criteria for businesses headquartered in Dane County. Property owners are only eligible if they also own and operate a retail business in the space. The grant is paid in two installments: up to 75% upon contract signing, and the remainder after project completion and invoice submission. Work must be approved before it begins, and all applicable city building permits must be obtained. The program encourages environmentally friendly upgrades and compliance with ADA standards.

Citizen Impact

This program provides financial assistance of up to $50,000 to local independent businesses for renovations, helping to maintain unique neighborhood character and support the local economy. Residents may see improved storefronts and business spaces as a result of these grants.

Confidence

high