Communities may offer a cultural or legacy business grant to support the long-term stability of those businesses.
The grants are targeted to:
Tenant improvements
Rent
Relocation within the community
Marketing
Professional services
Other potential uses
See the City of Birmingham, City of San Jose, and San Francisco Case Studies.
Other Financial Policies & Programs:
The community can create a business or community improvement district where incremental tax revenue is reinvested into infrastructure improvements.
Communities may offer financial incentives to developers for creating space for and/or preserving local, cultural, and legacy businesses.
Communities can work with local lenders and financial organizations to address capitalization needs to support longer leases or property ownership. Communities can partner with these financial institutions that emphasize investment in these corridors.