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ROI Jamestown Grant
City of Jamestown
ABOUT THE GRANT
The ROI Jamestown (Reinvestment for Opportunity & Impact) Grant Program provides Jamestown, New York commercial property owners and tenants with reimbursement grants of up to $50,000 to make improvements to their facilities and operations. Administered by the City of Jamestown's Department of Development and funded through federal Community Development Block Grant (CDBG) dollars from the U.S. Department of Housing and Urban Development, the program is designed to facilitate the revitalization of Jamestown's commercial buildings and businesses, encourage economic growth, secure private investment, promote small businesses and entrepreneurship, and ultimately sustain and create jobs. The program is competitive, with grants awarded on a quarterly basis as funding permits.
Grant funds may be used for building improvements, permanently installed fixtures and equipment, permanently affixed signage, ADA accessibility improvements, and interior commercial buildouts. Eligible improvements include painting, exterior refinishing, doors, windows, lighting, roof repair, brick repointing, HVAC, handicap-accessible improvements to restrooms, entrances, and ramps, and machinery permanently affixed to the building (available only when the applicant is both the deeded property owner and the business owner). A portion of grant funds may be used for building acquisition on a case-by-case basis, subject to strict job creation requirements. Residential rental buildings (unless connected to a mixed-use building), home-based businesses, financial institutions, nationally dominant chains and franchises, and structures outside Jamestown city limits are not eligible.
To qualify, the property must be located within the City of Jamestown's census tracts and be found code-compliant by the City's Building and Code Enforcement Officer, and all City and School taxes and Board of Public Utilities (BPU) accounts must be paid in full. Property owners must provide a copy of their deed, and tenants must provide their lease agreement. Priority is given to commercial buildings in the Downtown Business District, City corridors, and industrial buildings occupied by businesses that will maintain or create employment. Applicants must demonstrate financial viability by providing 12-month and 3-year cash flow projections, or a Profit and Loss statement covering the last two years. Grant recipients must commit to remaining in the location for at least three years for grants of $15,000 or less, and at least five years for larger awards. Business tenants must document these commitments in a signed lease.
All applications must include two sets of estimates for the work to be completed, and all estimates involving labor over $2,000 must include prevailing wage. Applicants are also required to self-certify that they are in good standing with the Department of Labor and Department of Environmental Protection. Deeded property owners who receive grant funding must sign a Five-Year Anti-Speculation Agreement, which is recorded as a lien with the Chautauqua County Clerk's Office; if the property is sold within five years of the last grant disbursement, a portion of the grant must be repaid (with the repayment amount decreasing each year). Buildings located in the Downtown Historic District or with an individual historic designation must obtain a No Adverse Effect letter from the State Historic Preservation Office before any work begins. Grant funds may be disbursed either as reimbursement to the applicant for paid invoices, or paid directly to the contractor through a signed Contractor's Agreement.
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NOTES
We haven't added commentary on this grant yet. In the meantime, the fundor's website (linkeded above) is the best source for application details and eligibility specifics.
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