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Hometown Revitalization Small Business Grant

 

 

Program Description

 

The Duke Energy Hometown Revitalization Grant Program awarded $25,000 via a partnership with a local 501c3 nonprofit to 20 communities across the state. The funds are used to support small businesses that have been challenged by COVID-19 to change their business practices or to improve the external or internal features of their business.

 

The Cool Spring Downtown District was awarded $25,000 through this program and will distribute the funds to businesses within the Municipal Service District. CSDD will award net funds to the grantees after the cost of administration of the programis paid for from the award, not to exceed 10% of the total grant award. Applicants may submit clarifying questions to Bianca Shoneman, President/CEO via email: bianca@coolspringfay.org.

 

 

Eligibility Criteria

Eligible businesses must:

  • Operate a brick-and-mortar business within the Cool Spring Downtown District Municipal Service District. See map below. Excluding home-based or virtual Non-Profits and franchises are not permitted.
  • Have less than 25 employees
  • Apply for between $500- $2,500 in funding support
  • Complete their work by June 30, 2023
  • Match Grant Funds: None

 

Eligible uses for grant funds fall into two categories:

*COVID-19 Reimbursement
(Approximately Twenty Percent of the grants will be awarded in this category)

 

Business owners interested in COVID-19 Reimbursement must provide a narrative as to how COVID-19 negatively affected the business, or physical location due to COVID-19 public health restrictions. These can include, but are not limited to:

  • Offering new online purchasing services
  • Offering new drive-through services due to COVID-19
  • Offering new delivery services
  • Making physical changes or additions to a business (adding a drive-through window, buying additional seating outdoors, plexi-glass barriers, etc.)

*NOTE: this grant is not intended to replace lost revenue due to staffing shortages or business closures, but to support the extra costs of physical or service changes to a business since COVID-19

*Business/Property Improvements 

(Approximately Eighty Percent of the grants will be awarded in this category)

Business owners interested in Business or Property Improvements must provide a proposed budget for projects to improve a business or property that will attract customers or help the business adapt to public health restrictions. These can include, but are not limited to:

 

  • Making physical changes or additions to a business to adapt to COVID-19 (adding a drive-through window, buying additional seating )
  • Making business or service changes to adapt to COVID-19
    • Online services
    • Drive-through services
    • Delivery services
  • Making physical changes or additions to improve the business
    • Internal business improvements (seating, visual merchandising, sales equipment, )
    • Other business improvements (creating an online presence, advertising, 

 

*NOTE: If the business owner does not own the property where they operate, they must include a letter of permission from the property owner for the work described. Any agreement about the work must be decided independently between the property and business owner.

 

Application Process

Interested business owners will complete an application that requires:

  • A summary of the business
  • How COVID-19 has impacted the business
  • How the funds will be used
  • How the funds help move your business forward

Applicants that choose to be reimbursed for previous COVID-19 related expenses must include receipts for the specific request being submitted.

Applicants that choose new COVID-19 related business/property improvements or beautification projects will beresponsible for paying the cost of the improvements and then showing receipts and proof of the work before beingreimbursed CSDD. Applicants must check in with CSDD  within 2 months and complete the work within the given deadline.Reimbursement will be made within 30 days.

After the business submits their application by December 15, 2022, CSDD’s Review Committee—a group of staff, board members, and volunteers—will review the applications and notify approved businesses by January 31, 2022. Note that asummary of the grants awarded will be included on the report filed with the grantor, Duke Energy Hometown RevitalizationSmall Business Grant.

Selection Criteria

In order to have an objective process for awards, evaluation criteria have been set in place:

  • 30% Purpose of Grant: Clear statement of what funds will be used for, eligible uses, reference to COVID-19 resiliencyas a major part of the grant
  • 50% Need & Impact: Description of need for the project, expected outcomes, need for your business to provideprogram/project.
  • 20% Completion & Communicativeness: Completion of the application, complete and clear attachments to theapplication when

*NOTE: The Duke Energy Foundation and CSDD encourages small business owners of all business type, experience, andbackground to apply, including Women, Veteran, and Minority-Owned businesses.

 

Deadline

Applications are due December 15, 2022. The CSDD Review Committee will review the applications and notify approved businesses by January 31, 2023. Please submit applications to info@coolspringfay.org.

 

Municipal Service District Boundary

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