WEST PALM BEACH, Fla. (July 29, 2020) – The West Palm Beach Downtown Development (DDA) is launching a new grant program to help assist businesses affected by COVID-19. The Tier One Grant Program launches on August 1, 2020 and will provide businesses in need of rental assistance with up to $2,500 a month for six months, with a maximum set at $15,000. The program is open to businesses throughout the DDA’s District.
“We are anticipating dealing with the impact of COVID-19 for much longer than expected, and many downtown businesses will need our assistance with one key thing: help to pay their rent,” said Raphael Clemente, Executive Director for the DDA. “This program is designed to help our small businesses get through this period of uncertainty with a little help to keep their doors open.
In order to receive funding, downtown businesses have to meet certain eligibility requirements, including proof that there are no liens or taxes due on their property; have at least one year left on their location’s lease term; and employ 15 or fewer people. The business must also have been open for a minimum of one year and pass a background check before being approved for the assistance.
“This program is actually based on one we provided in the past as an incentive for businesses to relocate to Downtown West Palm Beach a few years ago,” said Teneka James-Feaman, Associate Executive Director of the DDA. “Helping keep businesses open through unprecedented economic downturns is just as important as business recruitment and our mission to create a vibrant downtown.”
The program will be funded through the DDA’s already existing incentive program. For more information on the West Palm Beach Downtown Development Authority and COVID-19, please visit the DowntownWPB.com/Work.
About the Downtown Development Authority
The West Palm Beach DDA is an independent taxing district created in 1967 by a special act of the Florida Legislature. Its mission is to promote and enhance a safe, vibrant Downtown for our residents, businesses and visitors through the strategic development of economic, social and cultural opportunities.
For more information about the DDA or Downtown West Palm Beach, please visit DowntownWPB.com or call the DDA at (561) 833-8873.