Commercial Property Owners Can Participate In State Grant Application

By John Voket

Newtown’s Economic Development Coordinator Betsy Paynter is gearing up to make an application to the State of Connecticut for the Main Street Investment Fund.

“If you own commercial property in one of Newtown’s business districts and have made improvements like signs, decorative lighting, architectural features, storefront enhancements etc, or if you plan to make improvements soon that will enhance your commercial property and contribute to the commercial viability of the business district,” Ms Paynter is asking those property owners to make contact with her in the Economic and Community Development office at the Newtown Municipal Center.

Property owners can call her at 203-270-4281 or e-mail betsypaynter@newtown.org.

Ms Paynter said that Newtown will be submitting the grant application for the town, and she needs all receipts and details of work by Monday, September 10, for potential reimbursement.

Connecticut’s Main Street Center (CMSC), in collaboration with the state’s Office of Policy & Management (OPM), held a series of workshops around the state in July and August to provide information on this program, including who may apply and project eligibility requirements.

View the PowerPoint presentation from these meetings at www.ct.gov/opm/mainstreet

Grants in an amount not to exceed $500,000 are available to municipalities with populations of not more than 30,000, or municipalities eligible for the small town economic assistance program or STEAP grants.

According to the guidelines, grants shall be used for improvements to property owned by the municipality, except the municipality may use a portion of the proceeds of the grant to provide a one-time reimbursement to owners of commercial private property for eligible expenditures that directly support and enhance an eligible project. 

The maximum allowable reimbursement for such eligible expenditures to the owner shall be $50,000 provided at the following rates:

(1) expenditures equal to or less than $50,000 shall be reimbursed at a rate of 50 percent, and

(2) any additional expenditures greater than $50,000 but less than or equal to $150,000 shall be reimbursed at a rate of 25 percent.

Newtown’s final grant proposal must include a certified resolution by the municipality adopting the plan, as well as a concise narrative and map presenting the municipality’s vision for its commercial center.

The OPM guidelines recommend that other plan elements that a municipality could consider detailing include:

*How the town can attract small businesses, promote commercial viability, and improve aesthetics and pedestrian access;

*A town center housing mix (market and workforce) plan with market-based recommendations for retaining and attracting a vibrant mix of street level retail, food, and entertainment uses;

*Incorporation of “complete streets” roadway design elements and accommodation for public transportation where applicable;

*Project phasing, implementation and financing plan for the proposed development efforts; and

*A business interruption, traffic and parking maintenance plan during project construction phases.