Communities may offer financial incentives to developers for creating space for and/or preserving local, cultural, and legacy businesses. The community’s Development Authority may offer developers project financing, development bonds, or grants (see below) to support dedicated spaces for local small businesses as part of a larger redevelopment project.
See the Business Incentives Case Study.
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.