Colorado Community Revitalization Grant Program in the US

Deadline: 1-Oct-21

The Colorado Office of Economic Development and International Trade (OEDIT) is pleased to announce Colorado Community Revitalization Grant Program that aims to provide grant funding to finance various projects across the state that are intended to create or revitalize mixed-use commercial centers.

This grant program will support creative projects that combine creative industry commercial spaces, performance space, community gathering spaces, child care centers, retail and workforce housing partnerships for the purpose of economic recovery and diversification by supporting creative sector entrepreneurs, artisans and community nonprofit organizations.

Priorities

Priority will be given to projects:

that have the highest degree of project readiness for immediate construction or renovation of buildings
with significant leverage of other funds
that address economic challenges such as economically disadvantaged communities, economically challenged groups, economic diversification of the local economy, business and/or resident attraction or retention considerations
that are located in creative districts, historic districts, main streets and commercial centers
that include a mix of uses and align with community goals and priorities
that include energy efficiency measures

Funding Information

For grant requests over $100,000, the awarded funding amount will not exceed more than 50% of the total costs of the project.
Grants will be capped at a maximum of $5 million per project in order to distribute the funds broadly. Projects that are specifically designed for artist live/workspace may be eligible for grants higher than $5 million, not to exceed more than 50% of the total project cost.
Funding amounts will be based on these factors:
- total project cost
- other sources of secured permanent funding
- gap amount needed for the project

Eligible projects

Successful projects serve as a catalyst for a community’s commercial center and should meet your area’s goals, strategies, and plans for development. Projects can be created through new construction or renovation of existing buildings and should celebrate the artistic or historic character of the community, provide infill development and/or elimination of blight, and increase property values. Projects that include the following may be prioritized:

be a creative mixed-use space that includes workforce housing units
have a high level of community engagement in response to community needs
show strong evidence of being able to attract additional sources of funding and broad support from local governments and surrounding communities or neighborhoods
stimulate economic recovery and economic diversification
demonstrate an ability to commence work within a reasonable amount of time
meet basic energy efficiency standards

The project can also include other types of uses such as: