Ross Street Patio, downtown Red Deer. (rdnewsNOW file photo)

By rdnewsNOW staff

Vacant Spaces Grant

Rental incentive grant returns to attract entrepreneurs to downtown Red Deer

Feb 16, 2024 | 11:08 AM

Red Deer’s Vacant Spaces Grant program returns to offer up to $10,000 in rental subsidy for entrepreneurs looking to set up shop downtown.

New in 2023, officials say the City of Red Deer’s Vacant Spaces Grant incentivizes the development of a unique, well-invested downtown where people and businesses can thrive. The City says entrepreneurs can apply to receive funding to activate vacant downtown street level, storefront commercial spaces with business concepts in the areas of food & beverage, entertainment and retail being prioritized.

“We were pleased with the initial uptake for the program and are excited to continue this funding opportunity, intended to enhance the downtown and showcase our city’s talented entrepreneurs,” said Bobby-Jo Stannard, Community Development Superintendent. “We look forward to seeing more exciting, new business concepts come to life through this program in 2024.”

Priority areas for applicant selection include vacant street level, storefront spaces along 50 Avenue between 48 Street and 53 Street, as well as spaces along 49 Street between 48 Avenue and 50 Avenue.

City officials say a total of $36,000 is available in 2024 with a maximum of $10,000 per applicant. In 2023, the City says the program supported seven applicants, including two new businesses on priority streets and six new businesses in priority industries. Unsuccessful applicants were offered business coaching through Community Futures and are invited to apply during the next funding cycle, the City points out.

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Application intake began Feb. 15, 2024, and will continue until the end of the year or until funds are depleted, whichever occurs first, note City officials. Applications will be adjudicated in April, July, and October. Applicants will be notified within two weeks after the adjudication date.

More information is available on The City’s website reddeer.ca/vacantspaces or refer to the Vacant Spaces Grant 2024 Q&A Backgrounder (pdf).

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