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JUNE 10,
MAIN STREET: OPEN FOR BUSINESSFaçade and Energy Grant Program
June 22, 2021
Contacts• Gayle Langley, Main Street Coordinator
[email protected], 720-498-0563• Traci Stoffel, Main Street Specialist
[email protected], 720-467-4327• Larry Lucas, Main Street Architect
[email protected], 720-402-9303• Will Cundiff, Grants Financial Administrator
[email protected], 303-864-8477
COLORADO MAIN STREET: OPEN FOR BUSINESS
COLORADO MAIN STREET: OPEN FOR BUSINESS
What?SB 21-252 allocates $7 million to Colorado Main Street to provide an incentive program for local business owners to improve the energy efficiency and/or aesthetics of downtown commercial buildings to:
• increase property values and visual appeal• increase sales and revenues • reduce energy consumption and lower utility bills• increase job retention/creation• create a ripple effect of investment• support main street/downtown businesses
COLORADO MAIN STREET: OPEN FOR BUSINESS
Who? We are currently looking at the following as eligible entities: • Municipal and county governments, and councils of government
• Can partner with nonprofit Main Street programs, BIDs, DDAs, chambers of commerce• Examples of partnership include outreach or administrative
assistanceGranted entities would make sub-grants to small business owners in traditional commercial districts that serve as the heart of the community.
COLORADO MAIN STREET: OPEN FOR BUSINESS
When?• Application materials posted by July 1, 2021• Rolling (monthly) grant cycles (first decisions made as early as Aug. 1)• Funds granted on merit until expended• Only work completed and paid for by June 30, 2022 will be reimbursed (and invoiced
by July 7, 2022) ** Using a local general contractor to bundle projects improves efficiency
COLORADO MAIN STREET: OPEN FOR BUSINESS
Eligible Expenses: Façade Improvements• Engineering, design, building permits• Removal of non-historical false fronts• Repair or replacement
• windows, doors, cornices• façade materials• character-defining architectural
features• New awnings or canopies
• Permanent signage• Exterior lighting• Exterior painting• Exterior access to building• Roof repair (to prevent impending
damage)
NOT ELIGIBLE: Removal of historic elements; replacement of historic elements with non-historic alternatives; power-washing or sandblasting of brick; new adobe/stucco/false fronts; painting of unpainted brickNOTE: All historic properties must follow the Secretary of the Interior Standards; all projects must follow local design guidelines
COLORADO MAIN STREET: OPEN FOR BUSINESS
Eligible Expenses: Energy Efficiency
• Windows, doors, and awnings• HVAC equipment, particularly
electrification• Roofing, insulation• Solar panels• High-efficiency and electric water heaters• Energy-efficient lighting (example LEDs)• Geothermal
COLORADO MAIN STREET: OPEN FOR BUSINESS
Helpful Resources• DOLA will award advance payments (in % increments of total award)• Granted entities can also advance payment or forgivable loans to businesses,
eliminating the business owners' need for upfront capital• Colorado Main Street and its partners will collaborate with other agencies on
augmenting and leveraging these funds (e.g., CDOT, HC, CEO, OEDIT)• Local ARPA may be able to be used as match (U.S. Treasury guidelines under review)
COLORADO MAIN STREET: OPEN FOR BUSINESS
Helpful Resources• Templates for business applications and reporting• Request consultant assistance from DOLA:
• to work one on one with your business owners to identify project scopes, budgets, best practices, SOI standards, and timeline (awardees can also hire this contractor assistance directly)
• to develop an outreach program that engages all businesses, particularly minority-owned and others who have not otherwise received recovery funds
COLORADO MAIN STREET: OPEN FOR BUSINESS
How It Works• Applicant organizations outreach to businesses and bundle projects
• Request consultant assistance as needed (for outreach or design)• Demonstrate outreach targeted underrepresented businesses• Collect and finalize project design/details/timeline for approval• Collect before and after photos and statistics
• Apply to DOLA with details of proposed projects• Upon award, DOLA advances % of funds (grantees submit documentation of funds
spent and receive next advanced payment)• Apply for any modifications along the way (DOLA approves all individual projects)
COLORADO MAIN STREET: OPEN FOR BUSINESS
Requirements of Granted Entities• Outreach to businesses in downtown district, including marginalized or
underrepresented businesses.• Establish local application and award/payment process for businesses
(templates will be provided).• Collect sufficient information from the applicants to issue IRS 1099 form.• Retain documentation on all uses of funds, including invoices.• By Jan. 30, 2022, demonstrate remaining funds will be spent by June 30, 2022.• Submit quarterly report describing projects, funds expended, % of projects completed.• Provide final report to DOLA including funds distributed to businesses and how much of the funds
were used for administrative costs.
COLORADO MAIN STREET: OPEN FOR BUSINESS
Requirements of Sub-Granted Businesses• Completed application indicating will complete project to the best of their ability
signed by the business and building owner• Written approval from local HP Commission and/or Design Committee (if applicable)• Photos of the structure showing the current condition (“before” photos)• Details of proposed improvements (e.g., replacement of windows, doors, HVAC, etc.)• Cost estimates and timelines from a qualified professional (e.g., licensed contractor,
mason, energy retrofit company, etc.)• Baseline reporting requirements - confidential
• For energy projects: Before/after utility bills• For façade improvements: Percent increase in sales and jobs created,
before/after photos
COLORADO MAIN STREET: OPEN FOR BUSINESS
FAQs• What is the match?
• 20%, less with demonstrated need.• What is the limit?
• Individual projects are estimated to range between $10,000 and $150,000; anticipate average award of $50,000. Total award limit is $1,000,000.
• Are strip mall businesses eligible?• Not likely. The intent of funds is to invest in downtowns and create a ripple effect of property
investment. • Are vacant buildings eligible?
• Maybe – If business will open by June 30, 2022, and applicant can demonstrate its potential impact to improve the downtown.
• Can we commit or obligate the funds but spend them after June 30, 2022?• No. All funds must be spent by June 30, 2022.
COLORADO MAIN STREET: OPEN FOR BUSINESS
Questions? Concerns? Input? Feedback?• Small, local business definition (retail, restaurant, salons, mechanic shop, theaters – anchor
business in community) – permanent building stock of downtowns – the higher intent is the critical buildings of your downtown that house businesses of today and tomorrow – Mostly keep in mind what our metrics and return on investment are
• Museums and new construction may work through creative funds available in the same legislation SB 21-252
• Will require list of buildings, estimated cost for the work proposed, impact for the downtown
COLORADO MAIN STREET: OPEN FOR BUSINESS
Questions? Concerns? Input? Feedback?• Are municipal/county owned buildings eligible?
Unlikely, as we will return to the metrics (increased sales, assistance to small business); there are some possible exceptions (for example, a theatre).
COLORADO MAIN STREET: OPEN FOR BUSINESS
There is simply no more cost effective
economic development program of any type,
on any scale, anywhere in the country than
Main Street.- Donovan Rypkema,
author of The Economics of Historic Preservation
