NRABC announces local business grant program

by Amy Wobbema

 Local businesses looking to boost their footprint have a new source of funds. And they’re the best kind: the ones you don’t have to pay back.

 New Rockford Area Betterment Corporation introduced the New Rockford Business Improvement Grant Program last week, with $30,000 in matching grants available.

NRABC Executive Director Amanda Hegland said Tuesday that the seed was planted last fall during the county strategic planning process. “We learned that the need was so much more than storefronts,” Hegland said, alluding to the storefront improvement grants offered by NRABC in 2007 prior to the city’s 125th anniversary.

In response, the organization developed a program geared towards any building improvement, inside or out, that will enhance a local business. Eligible projects may include retail space enhancements, exterior repairs, facade facelifts, additions, or leasehold improvements made to provide space for a new or expanding business.

Hegland noted that the program is geared towards improving commercial property within the city in a way that will be beneficial to both the business and the community. The applicant will need to provide supporting data for how the project will meet that criteria. The maximum grant amount is 50% of the total project costs, and the applicant must provide the other 50% of the cost. The maximum grant award is $5,000. Funds cannot be used for normal business operations, the purchase of equipment or inventory, or for home-based businesses.

This is an example of local money funding local projects, as the NRABC has set aside city sales tax dollars for this program. In addition, the New Rockford Eagles Club pledged $10,000 in charitable gaming funds to NRABC this summer, which will also be used for this program.

In the spirit of “keeping it local,” Hegland said all materials and labor must be purchased locally, unless otherwise not available. Applicants are encouraged to seek out local partners and keep the community’s economic wheels turning in all ways possible. Estimates from local vendors and contractors must be submitted with the application.

This is a competitive grant with limited funds. The NRABC board will review the first round of applications on December 1. Therefore, applicants are encouraged to submit prior to December 1, as the program will cease once the available funds have been dispersed.

For full details, pick up or download an application packet. Applications are available at the NRABC office in city hall, or downloaded from the City of New Rockford’s website, http://www.cityofnewrockford.com.

For questions about this or any NRABC program, contact Hegland at (701) 947-2205 or email [email protected].