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USA Niagara Development Corporation Grant Program Overview
USA NIAGARA DEVELOPMENT CORPORATION
Grant Program Description
(Funds to be used within the USA Niagara Development District)
The USA Niagara Grant Program is an economic incentive program that will help create jobs and encourage businesses to invest in new development projects in downtown Niagara Falls.
Grant Program Elements
The Grant Program is designed to encourage business activity that would not occur without public sector investment and provides financial assistance to projects that will create or retain jobs. USA Niagara will consider projects that demonstrate the ability to deliver a viable project including the following elements:
- Site Control.
- Eligible costs include site acquisition, demolition/renovations, remediation of existing structures, new construction and build-out, and new equipment purchases.
- Projects must be consistent with any existing local or regional comprehensive plan, building on efforts to redevelop downtown into a vibrant tourism destination.
- Project costs incurred prior to project approval by USA Niagara may not be reimbursed.
- The Program will generally fund no more than $100,000 or one-half (50%) of eligible project costs, whichever is less. Project cost must be a minimum of $25,000.
Grant Criteria
Applications will be made available after qualifying applicants to the viability and quality of their projects. Major criteria to be considered by USA Niagara in evaluating project proposals include:
- The extent and nature of job creation or retention resulting from project.
- Highest priority in project selection will be given to those projects that USA Niagara determines will result in the most long-term private sector job creation and /or retention and / or the creation of tourism and eco-tourism related development.
- Whether the project promotes economic reuse through demolition and redevelopment of an available site.
- Impact of the project on tourism activity within the development district.
- Likelihood that the project costs reflects accurate market conditions.
- Likelihood that the project will actually be undertaken and completed within the timeframe stated by the applicant. Factors to be evaluated in this regard include but are not limited to:
- appropriateness of financing structure and presence of existing funding commitments within proposed funding mix
- status of required permits
- environmental assessments of proposed project
- viability of the project as proposed -will the project be financially viable (e. g. will adequate revenues be available to meet ongoing costs?).
- equity investment in the project
- effect of the proposed project on other USA Niagara initiatives
Required Information
Grant applicants are requested to provide the following information:
- Description of project.
- Business Plan (for new businesses).
- Number of full-time and part-time employees created or retained by project.
- Budget describing the sources and uses of funds.
- Site control information.
- Renderings of project.
- Intent to participate in City façade grant program (architectural assistance may be available).
Urban Design Standards
Applications for proposed development and/or building rehabilitation under the Grant Program must conform to USAN’s established Urban Design Standards. These include design requirements for issues such as siting of buildings, parking lot treatments, architectural features, materials, and façade rehabilitation standards.
A full copy of the Urban Design Standards can be downloaded by clicking on the link below:
Download Copy of USA Niagara Urban Design Standards
Other Economic Incentive Programs
In additional to USAN’s grant program, there are a host of other incentives available to investors in downtown Niagara Falls. These programs are administered by various federal, state, and local agencies. A summary of these other programs and contacts for more information can be obtained by clicking on the link below:
Download Summary of Other Niagara Falls Incentive Programs
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