Are you a property owner interested in applying?
Completed applications are currently being accepted through 4:00pm on January 30th, 2018. Download the project eligibility guidelines and application by clicking the link below.
For questions related to this program and the application, contact Jennifer Carman at email@example.com or (716) 882-7661 ext. 202.
Have questions? Want to hear more about the eligibility guidelines and application process? We will be hosting an Informational Session in November! Date, time, and location to be announced soon- stay tuned!
Buffalo Main Streets Initiative for Grant Street
The Buffalo Main Streets Initiative (BMSI) is a reimbursement program that provides commercial and mixed-use property owners with a 75% match (three dollars of grant funds for each one dollar of owner funds) up to a project total of $50,000 for commercial building renovations and $25,000 per unit for residential renovations, with a maximum grant amount of $150,000. Because BMSI funds are paid out at the end of a project, property owners must be able to pay for the full cost of the work up front prior to the 75% reimbursement (as well as permanently pay for their 25% share.)
The Buffalo Main Streets Initiative Program for Grant Street was created to support commercial and mixed-use building renovations. The mission of the program is to stimulate reinvestment in properties, increase occupancy rates, and generate economic activity. Eligible properties must be commercial or mixed-use buildings located on Grant Street between West Ferry Street and Potomac Avenue. Eligible projects will include facade improvements and can include interior commercial and/or residential repairs.
The Housing Trust Fund Corporation has awarded Heart of the City Neighborhoods, Inc. grant funds to disburse to property owners in the target area to use to help fund the cost of renovating their buildings. This initiative is part of Empire State Development’s Better Buffalo Fund.
Grant Street between West Ferry Street and Potomac Avenue in the West Side is an essential artery to the community. This diverse community is evidenced by the current businesses, which include everything from international grocery store, a used book store, sporting and music supply stores, an Italian market, an African and Middle Eastern grocery store, a Burmese market, a BBQ stand, Halal market, beauty salons, and a hardware store. These and other businesses help residents meet their daily needs where they live and attract shoppers from around the region. However due to their age, many buildings still require significant repair and businesses could use assistance to improve their viability.
The BMSI program will help support business owners who have invested in this great community for so many years. This program will work to sustain the unique, regional cluster of commercial businesses in this diverse community. The BMSI program will also promote inclusivity and work to sustain affordability in the community as tenants residing in assisted residential units will be guaranteed affordable rent, under the rental affordability period required by all participating property owners. This will work to eliminate tenant transiency and create a stronger, stable neighborhood.
In 2016-17, HOCN administered the Buffalo Main Streets Initiative for lower Niagara Street, assisting four property owners with repairs and renovations located between Porter Avenue and Hudson Street.