WEST PALM BEACH, Fla. (January 6, 2021) – The West Palm Beach Downtown Development (DDA) is launching a third round of its Tier One grant program to help assist businesses affected by COVID-19. Applications opened Monday following board approval of another $100,000 to the successful program. The initial round of assistance opened last August, and was allocated to businesses in need of rental assistance up to $2,500 a month for six months. The maximum allocation of funds per business is $15,000. The program is open to businesses throughout the DDA District.
“The impact of COVID-19 has extended much longer than anticipated, so our board felt additional help was appropriate and necessary,” said Raphael Clemente, Executive Director for the DDA. “This step will help our small businesses get through the reduction in patronage over the last year by keeping their doors open with assistance to pay their rent.”
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. 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 based upon a previous incentive to prompt relocations to Downtown West Palm Beach a few years ago,” said Teneka James-Feaman, Associate Executive Director of the DDA. “Helping to keep our businesses open at a time like this is a crucial part of our role and mission to create and sustain a vibrant downtown.”
The program will be funded through the DDA’s already existing incentive program. Six businesses are already being assisted and half of the $225,000 funds remain available. For more information on the West Palm Beach Downtown Development Authority and COVID-19, please visit 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.