As a leading commercial construction company specializing in renovation services, we understand the importance of keeping your building’s exterior looking its best. Not only does a well-maintained exterior enhance property value, but it also attracts more interest to your building, ultimately improving the reputation of your business.
The Edmonton Storefront Improvement Grant is a funding opportunity that can help take your building renovation to the next level.
We are aware that securing adequate funding is a major concern for building owners and property managers in Edmonton who aim to upgrade their outdated commercial spaces. Balancing budget limitations with renovation requirements can be challenging, particularly for those seeking to make significant improvements.
If you have been contemplating renovating your dated building, but your finances have held you back, we have good news for you.
Also read: Want To Renovate Your Commercial Space? Hire Local Commercial General Contractors
In this blog post, we will provide a detailed overview of the Storefront Improvement Grant, including the available funds, eligibility criteria, the application process, and the timeline for the grant award and completion of the renovation.
What Is The Storefront Improvement Grant?
The City of Edmonton offers a number of Grants aimed at supporting construction and renovation projects. One amongst these that specifically seeks to aid businesses looking to renovate the exterior of their dated building is the Storefront Improvement Grant. In simple words, it is a reimbursement of a significant part of the construction costs received after the submission of the required documentation.
As part of the Business Improvement Area Grant, this grant provides financial support for renovation projects that enhance the overall appearance of the building and contribute to the revitalization of the community.
Available Funds For The Storefront Improvement Grant
The amount of funding available may vary with the scope and scale of the building renovation project. However, these general principles surrounding the funds are as follows:
- A mid-block commercial building may receive reimbursement for up to 50% of the total construction costs, up to a maximum amount of $25,000.
- For a corner building whose both facades face public sidewalks are active, a reimbursement for 50% of the costs (up to $50,000).
- For a corner building with only one of the sides facing public sidewalks active, a 50% reimbursement with a maximum amount of $30,000 is applicable.
- Small parking lots between the building and the sidewalk may also be eligible for the grant.
Application Intake Period
Building owners and managers seeking to take advantage of this funding opportunity must submit their application before February 28th for the current application intake period. Subsequent application periods will occur from April 1st to 30th and September 1st to 30th. It is important to note that applications submitted outside of these designated periods will not be considered.
To mitigate the risk of errors in the application and ensure peace of mind, partner up with BelVan Construction and let us smoothly walk you through the process. Our team will not only handle your renovation project with due diligence but will also help compile and submit all the paperwork needed to apply for the grant.
Eligibility Criteria
It is crucial to remember that this grant is not for every building in Edmonton. You must meet the following eligibility criteria:
- The applicant must be the commercial property owner or someone approved to act on the former’s behalf.
- The property should be located within a Business Improvement Area or other Council-approved Target Area.
- Construction or renovation work should not have started before the application.
- The renovation project must aim at supporting commercial use.
- The commercial property in question must not have previously received the Storefront Improvement Grant/Facade Improvement Program Grant.
- The renovation project must include a critical improvement such as storefront redesign, window/door upgrade, and installation of new accessibility features.
- After the project is completed, the commercial building must have clear street-level windows with no obscurities for at least the next five years.
For in-depth information regarding the eligible and ineligible costs, please refer to the Storefront Improvement Program Guide or get in touch with us.
The Application Process And Grant Award Timeline
Property owners and managers seeking reimbursement from this grant must apply within the prescribed period by filling in an application form and submitting the required documents. However, they must confirm their eligibility beforehand. The Project Review Committee will review the application within three to four weeks and either approve, approve with conditions, or refuse the application.
Within three months of receiving the approval letter, the applicant must send the required documents, which will be used to draft a Reimbursement Agreement. The applicant then has one year to complete the renovation project. The Program Manager will then assess the project’s compliance with the terms of the Reimbursement Agreement and will request additional documents to be submitted within thirty days.
Once the latter is done, the reimbursement cheque will be issued within three to six weeks.
It is apparent that this process is quite daunting and better left in the hands of a professional. As a highly regarded construction company specializing in top-quality renovation services, we would like to assure you that our experienced team can competently manage your project from beginning to end and assist you in availing the benefits of the Storefront Improvement Grant.
About BelVan Construction
We are Edmonton’s top-rated commercial construction company with hands-on experience in handling numerous construction and renovation projects of varying scales. Learn more about BelVan Construction.
Need high-end commercial renovation services? Contact us now.
