Small Business Façade and Property Improvement Grants Now Available

Small Business Façade and Property Improvement Grants Now Available

INDIANAPOLIS, January 18, 2018 – The Small Business Façade and Property Improvement Program is a tool within FOCUS: Works, a collective impact partnership between implementing partners LISC Indianapolis, the Indy Chamber, the Indianapolis Coalition for Neighborhood Development, and the City of Indianapolis, with key support from Indianapolis Neighborhood Housing Partnership® (INHP), State Farm Insurance, PNC Bank and others. The program is a key part of Indy’s comprehensive approach to community revitalization — helping residents transform distressed areas into places of choice and opportunity.

The Small Business Façade and Property Improvement Program is a rebate program where business and property owners receive reimbursement for up to 50 percent of the cost of the project in amounts ranging from $1,000 to $25,000 for completed work, as well as free architectural consultation to maximize visual impact. Businesses are selected through a competitive process and must work in partnership with their local neighborhood development groups to receive funds and complete their project. These partnerships produce sustainable development that goes much further than the outside of a building. These improvements could include new signage, windows, painting, and/or structural or design changes.

“The goal of the Small Business Façade and Property Improvement Program is to strengthen the neighborhood-based businesses and commercial districts that are so important to urban quality of life,” said Bill Taft, Executive Director of LISC Indianapolis.

“We support LISC’s efforts to offer this grant because it directly complements our housing initiatives,” said Moira Carlstedt, president and CEO of INHP. “When businesses are able to outwardly express their vibrant, productive use of space, it can help attract and retain residents who want to support and take pride in these neighborhood assets.”

In the past decade, the façade program has played a key role in transforming mixed-use neighborhoods like Fountain Square and Irvington. In 2017, the façade improvement program supported 19 substantial façade projects across distressed neighborhood districts. Nearly $271,000 in grants were awarded to area businesses, totaling more than 175,000 in impacted square feet.

The first round of 2018 applications are due on February 16, 2018. A second round will be due on April 13, 2018. Property owners interested in pro-bono design assistance can apply in February. To learn more about the 2018 Small Business Facade Program application guidelines, please click here.

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Local Initiatives Support Corporation (LISC) Indianapolis is the local office of a national organization that helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones — good places to live, do business, work, and raise families. By providing capital, technical expertise, training, and information, LISC supports the development of local leadership and the creation of affordable housing; commercial, industrial, and community facilities; businesses; and jobs. In short, we help neighbors build communities.