ReStore Retail Incentive Grants

Posted by on December 15, 2008

It is with great pleasure that The Merchants Fund announces the availability of $500,000 for ReStore Retail Incentive Grants.  TMF will present a request for proposals on January 7, 2009 at 2:00 pm at the Center for Architecture, 1218 Arch Street.

·         Grants must have at least two primary partners:  a community not-for-profit who will act as the grant and project manager and a future or current retail business owner.   New ventures and existing businesses are welcome to apply.

·         The goal is to upgrade or establish high quality retail in the neighborhoods of Philadelphia.  Identified businesses should fulfill neighborhood development plans.  Businesses must be located adjacent to or on a commercial corridor.

·         It is anticipated that 10 grants of $50,000 each will be made.  Grants will pay for capital improvements necessary to fit out a retail space for the identified business. Requests for operating or working capital will not be considered.  Grants will be very competitive and are last dollar funds.  Partners will have to demonstrate the ability to fund the entire project from start to finish including the Incentive Grant.

·         Timeline:       RFP presentation January 7th
Proposals Due On  Friday, February 27th
Decisions within two to three weeks based on response volume

·         Incentive Grants are being administered separately from TMF grants. Application and requirements and will be made available before January 7th.  TMF may chose to co-grant or not based on the qualifications of the merchant and the business.  The next TMF grant deadline will be Monday, February 2, 2009.  Stay tuned for web updates and a detailed email.
At least one key partner is encouraged to attend the RFP session.  We will be taking attendance.

Many thanks to the Center for Architecture, The AIA Book Store and The Philadelphia Design Collaborative for letting use their new space.  If you have not already visited the new site you will be delighted to explore this great new location.

The Merchants Fund is making this new program available through funding from the City of Philadelphia Commerce Department.