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Sunday, April 14, 2024

NoMa BID to Award Retail Opportunity Fund Grants

The NoMa Business Improvement District (BID) announced the Retail Opportunity Fund which offers $70,000 in funding for small businesses in the neighborhood.

The effort aims activate the streets surrounding the corridor, promote diversity and inclusivity in the neighborhood and develop small businesses. Grants between $5,000 and $25,000 will be awarded to help defer construction costs for storefront improvements, signage, exterior lighting and landscaping, painting and exterior furnishing and fixtures in addition to public space improvements surrounding the businesses. 

“The NoMa BID is dedicated to cultivating a dynamic and thriving retail environment that reflects the unique character of our neighborhood,” Maura Brophy, President & CEO of the NoMa BID said. “We encourage local entrepreneurs and small businesses to take advantage of this impactful opportunity designed to continue to make NoMa magnetic.” 

Both existing NoMa neighborhood businesses and new retail tenants with a five year or longer lease agreement are eligible to apply. All applicants are invited to submit a Letter of Interest (LOI) detailing their proposed project or improvements and how it will positively impact the corridor.

The deadline for application submission is March 17. Visit nomabid.org to learn more about the grant application process and view upcoming events in the neighborhood.

Sarah Payne is a reporter for Capital Community News. She can be reached at sarahp@hillrag.com.

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