ARTICLE
FOR IMMEDIATE RELEASE: Media Contact: David Huck: dhuck@waterburychamber.com 203-757-0701 x 309 $1.5 MILLION IN AMERICAN RELIEF PLAN ACT FUNDS MADE AVAILABLE FOR NEW ECONOMIC DEVELOPMENT PROGRAM LED BY WATERBURY REGIONAL CHAMBER WATERBURY,CONN—The Greater Waterbury Chamber of Commerce Foundation, which is working in partnership with the City of Waterbury, received unanimous approval from the Board of Alderman on Monday evening to launch a new economic investment program aimed at helping central business district property owners lease their vacant storefronts. The initiative, named the Central Business District Investment Program (CBDIP), uses $1.5 million of American Rescue Plan Act funds to establish a matching grant program that would support property owners within the district who were negatively affected by the COVID-19 pandemic. The Greater Waterbury Chamber of Commerce Foundation is an affiliate of the Waterbury Regional Chamber. Waterbury Regional Chamber staff serve as GWCC Foundation staff and will direct and lead the program. An oversight and approval committee, compromised of City officials and Chamber Foundation officials will be responsible for reviewing and awarding the grants. “The Central Business District Investment Program is a unique initiative that is designed to spur new economic activity within the downtown Waterbury area,” said Mary Rosengrant-Chiappalone, the Chairwoman of the Greater Waterbury Chamber of Commerce Foundation and Waterbury Regional Chamber Board of Directors and a partner at Biondi & Rosengrant, LLC. “Businesses of all sizes were greatly impacted—and continue to reel from the ravages of the pandemic. We hope this program helps to bring new development activity to our vacant storefronts.” Under the program, eligible property owners can receive up to $100,000 to be used for interior or exterior buildout costs for vacant ground floor-level retail space. Property owners with vacant storefronts are eligible for a grant of $50 per square foot, up to $100,000. Any grant awarded to a property owner must be matched at 100 percent by the owner of the property, the tenant, or a combination of both parties. Applications will open August 1 at waterburychamber.com. “This initiative will provide a significant incentive for property owners to make improvements to existing ground floor spaces in need of upgrades and offers opportunity for small businesses to lease vacant storefronts,” said Joseph Violette, Director of Public Policy and Economic Development at the Waterbury Regional Chamber. “We are grateful to the City of Waterbury for partnering with the Chamber to make these much-needed funds available. When vacant storefronts begin coming to life again, the ripple effects across the local economy and community at-large will be significant.” The Central Business District consists of properties largely within a perimeter extending from Grand Street, east along Interstate 84 to Baldwin Street, westerly along West Main Street, and south towards Grand Street, along with Freight Street. All ground floor properties in the Central Business District will be eligible but special consideration will be given to restaurant spaces, vacant properties adjacent to other vacant properties, and property owners who are leasing their space to minority or women owned businesses in the following properties located on: Bank, South Main, East Main, Grand, West Main, Meadow, Freight, State, Church, Leavenworth, Center, and Brook Streets. Additional details about the program will be released in the coming weeks. For questions about the program, contact Joseph Violette, at jviolette@waterburychamber.com or 203-757-0701 ext. 319. About the Greater Waterbury Chamber of Commerce Foundation, Inc. The Greater Waterbury Chamber of Commerce Foundation, Inc. (the Foundation or Affiliate) is a nonprofit entity incorporated in the State of Connecticut. The charitable purpose of the Foundation is to receive and administer funds exclusively for education, scientific or charitable purposes. Additionally, the Foundation attempts to encourage, foster, and stimulate culture, commerce, trade, business, finance, and professional interest. ###
FOR IMMEDIATE RELEASE:
Media Contact: David Huck: dhuck@waterburychamber.com 203-757-0701 x 309
$1.5 MILLION IN AMERICAN RELIEF PLAN ACT FUNDS MADE AVAILABLE FOR NEW ECONOMIC DEVELOPMENT PROGRAM LED BY WATERBURY REGIONAL CHAMBER
WATERBURY,CONN—The Greater Waterbury Chamber of Commerce Foundation, which is working in partnership with the City of Waterbury, received unanimous approval from the Board of Alderman on Monday evening to launch a new economic investment program aimed at helping central business district property owners lease their vacant storefronts.
The initiative, named the Central Business District Investment Program (CBDIP), uses $1.5 million of American Rescue Plan Act funds to establish a matching grant program that would support property owners within the district who were negatively affected by the COVID-19 pandemic. The Greater Waterbury Chamber of Commerce Foundation is an affiliate of the Waterbury Regional Chamber. Waterbury Regional Chamber staff serve as GWCC Foundation staff and will direct and lead the program. An oversight and approval committee, compromised of City officials and Chamber Foundation officials will be responsible for reviewing and awarding the grants.
“The Central Business District Investment Program is a unique initiative that is designed to spur new economic activity within the downtown Waterbury area,” said Mary Rosengrant-Chiappalone, the Chairwoman of the Greater Waterbury Chamber of Commerce Foundation and Waterbury Regional Chamber Board of Directors and a partner at Biondi & Rosengrant, LLC. “Businesses of all sizes were greatly impacted—and continue to reel from the ravages of the pandemic. We hope this program helps to bring new development activity to our vacant storefronts.”
Under the program, eligible property owners can receive up to $100,000 to be used for interior or exterior buildout costs for vacant ground floor-level retail space. Property owners with vacant storefronts are eligible for a grant of $50 per square foot, up to $100,000. Any grant awarded to a property owner must be matched at 100 percent by the owner of the property, the tenant, or a combination of both parties. Applications will open August 1 at waterburychamber.com.
“This initiative will provide a significant incentive for property owners to make improvements to existing ground floor spaces in need of upgrades and offers opportunity for small businesses to lease vacant storefronts,” said Joseph Violette, Director of Public Policy and Economic Development at the Waterbury Regional Chamber. “We are grateful to the City of Waterbury for partnering with the Chamber to make these much-needed funds available. When vacant storefronts begin coming to life again, the ripple effects across the local economy and community at-large will be significant.”
The Central Business District consists of properties largely within a perimeter extending from Grand Street, east along Interstate 84 to Baldwin Street, westerly along West Main Street, and south towards Grand Street, along with Freight Street. All ground floor properties in the Central Business District will be eligible but special consideration will be given to restaurant spaces, vacant properties adjacent to other vacant properties, and property owners who are leasing their space to minority or women owned businesses in the following properties located on: Bank, South Main, East Main, Grand, West Main, Meadow, Freight, State, Church, Leavenworth, Center, and Brook Streets.
Additional details about the program will be released in the coming weeks. For questions about the program, contact Joseph Violette, at jviolette@waterburychamber.com or 203-757-0701 ext. 319.
About the Greater Waterbury Chamber of Commerce Foundation, Inc.
The Greater Waterbury Chamber of Commerce Foundation, Inc. (the Foundation or Affiliate) is a nonprofit entity incorporated in the State of Connecticut. The charitable purpose of the Foundation is to receive and administer funds exclusively for education, scientific or charitable purposes. Additionally, the Foundation attempts to encourage, foster, and stimulate culture, commerce, trade, business, finance, and professional interest.
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