Toolkit Home | Economic Support | Building Owner Grants
Providing grants for legacy business building owners.
Providing economic support to building owners as part of a legacy business program helps to steady rental costs for legacy businesses and stabilize the physical spaces that house them. Maintenance and renovation costs, increased taxes, or real estate market pressures can strain building owners financially, directly threatening the displacement of legacy businesses through higher rents or building sales. Offering economic support through grants as part of a legacy business program can help building owners maintain affordable leases and sustain the long-term stability of the legacy business. The following section outlines some of the most commonly used and most valuable grant options for a legacy business program.
As with legacy business owners, grants are the primary source of economic support for building owners in legacy business programs. The following sections outline some of the grants available to provide examples for you to use when planning your legacy business program.
Landlord Incentive Grants
One of the most impactful grants in use in a legacy business program is the Landlord Incentive Grant, part of the San Francisco Legacy Business Program, because it focuses on rent stabilization for legacy businesses. This grant incentivizes building owners to retain legacy business tenants through multi-year leases. Landlords who rent commercial space to qualified legacy businesses for a 10-year lease or more are eligible for annual grants of up to $4.50 per square foot.
Matching Grants
Multiple legacy business programs either include or leverage existing matching grant programs. A matching grant is a financial tool that helps with building renovations and façade improvements by providing a dollar-for-dollar match to any money building owners invest. This type of program alleviates some of the financial burden of building maintenance and renovation, encouraging building owners to upgrade their properties to the benefit of both the legacy business and the surrounding community. These types of programs are widely available at the municipal and state levels, so be sure to determine whether one is available to incorporate into your legacy business program.
San Antonio Legacy Business Program
The San Antonio Legacy Business Program offers a matching grant program for qualifying legacy small businesses to fund façade upgrades, landscaping, signage, and parking improvements.
Case in point.
Business/Storefront Improvement Grants
Improvement grants are financial tools commonly available at the regional or state level to help building owners with renovations or improvements. These grants can be leveraged by legacy business programs to support façade improvements, accessibility upgrades, or building rehabilitation. In turn, these improvements can help legacy business owners strengthen their operations and attract new customers.
New York Main Street Renovation Grant
While not explicitly tied to legacy business programs in the state, the New York Main Street Renovation Grant (NYMS) funds local governments and nonprofit organizations that are committed to revitalizing downtowns, mixed-use commercial districts, and village centers. These funds can then be distributed through targeted commercial improvement grants that building owners can use for façade improvements, physical interior and exterior upgrades, and “streetscape enhancements.”
Case in point.
Economic Equity Grants
Some municipalities offer building improvement grants targeted at specific communities or groups. The goal of these grants is to provide capital to those in underserved communities or those who may lack access to traditional capital. The groups targeted for these grants include BIPOC, ethnic, immigrant, and LGBTQ+ communities. Low-income, under-resourced, or marginalized communities are also typically funding targets. If your legacy business program contains these communities, consider leveraging any available equity grants in your area.
Facade Improvement Planning Grant Program | Toledo, Ohio
The Façade Improvement Planning Grant Program in Toledo, Ohio, provides grant funds to commercial building owners in low-income or U.S. Department of Housing and Urban Development (HUD) Neighborhood Revitalization Strategy Areas (NRSAs).
Case in point.
Business Improvement District (BID) Grants
Business Improvement Districts (BIDs) are a defined area that are commonly run by groups structured as nonprofits but functioning similar to a municipal organization. In these districts, local property owners pay a tax or assessment that funds programs and grants specific to that area. These can include beautification or improvement programs, public safety, or grants or programs that could benefit legacy businesses, such as business retention initiatives. BIDs offer a unique organizational structure that includes the advocacy work of a nonprofit backed by a stable funding source like the tax or assessment. This can make them a reliable funding partner for legacy business grants.
Downtown Boost Program | Baltimore, Maryland
At the local level, Baltimore created the Downtown BOOST Program as part of a Business Improvement District (BID), which “supports the long-term success of minority-owned businesses” through grant funding and a cohort training and support model.
Case in point.
Other Private or Nonprofit Grants
Legacy business programs often combine public and private or nonprofit grant resources. Several nonprofit and philanthropic organizations provide funding and investment in community development and the preservation of economic and cultural communities (see the Where to Look and Who to Talk To section for examples). Engaging with foundations, nonprofits, community-based organizations, and corporations, along with municipal partners, helps to diversify the resources you can provide legacy business owners and strengthen your program’s long-term sustainability.
Detroit, Michigan
The City of Detroit partnered with the Kresge Foundation to provide direct grants to support the longevity of legacy businesses in specific commercial corridors. Part of this funding went directly to building owners for interior and façade improvements.