Guidelines

Description: Property Improvement Grants are strategic investments to enhance the economic vibrancy of Madison. Grants up to $2,500 in reimbursable expenses are available to businesses in Madison for the purpose of improved placemaking to streetscape and store front design, improved marketability and positive visual impacts and/or accessibility. Total project costs can exceed $2,500 and grantees would be eligible for up to $2,500 of project costs.

Purpose:

To encourage and supplement investment in visual improvements that serve to enhance the appearance and overall economic vitality of the area with the goal of serving as a catalyst for further investment in Madison.

Eligibility and Guidelines:

• Open to all businesses in Madison.
• Applicant must either own their property or have a letter of authorization for improvement work from the property owner.
• Property must be commercial or mixed use. Personal home residences are not eligible.
• Property & business owner (if not property owner) must not have any outstanding obligations to the Town (no back taxes owed, town liens on property, etc.).
• The project must have all required Town approvals and permits.
• This is a reimbursement grant payable when the work is completed.
• The project cannot have started or been completed before grant application is submitted.

Eligible Costs: 

Minor facade improvement costs directly associated with the rehabilitation of a commercial facade. Including but not limited to:

• Facade repairs (painting, masonry, gutters, windows, and doors)
• Storefront signage
• Awnings or canopies
• Exterior lighting
• Accessible access
• Facade Landscaping

Ineligible Costs:

• Permit fees
• Grant matching
• Refinancing debt
• Payment of taxes and or Town/State/Federal fees, assessments, interest, etc.
• Survey and/or soil scientist fees
• Engineering fees
• Legal fees
• Consultant fees
• Architectural fees

Procedure:

1. Complete the Property Enhancement Grant Program Application and submit it with all the required application materials to the Economic Development Department by
   1. March 1, 2023 for Round 1
   2. April 1, 2023 for Round 2, contingent upon available funds
      
      Processing of applications will be on a "first come, first served" basis. There are limited amount of funds available, therefore this program will be end once the funds are depleted. All applications must be complete and adhere to all eligibility requirements to be considered for review.
2. Completed applications will be reviewed by the Economic Development Director to determine eligibility and the amount of funding to be recommended to the EDC.
3. Eligible applicants will be notified and the applications will be forwarded to the Economic Development Commission (EDC) for review and action at a meeting. The EDC may place some priority on needs-based projects in the event of receiving an excess number of applications and has full discretion to approve or disapprove based on their judgement of priority. 
4. Upon final approval of the application the applicant will complete and sign all necessary Property Enhancement Grant Program Agreement and/or Contracts.
5. When a request for reimbursement is submitted with verification that the approved work is completed and paid in full, with receipts and photos, the applicant will be issued the appropriate reimbursement based on the grant award.

Timeline:

• Round 1 applications will be reviewed by the EDC at their March 2023 Commission meeting. If there are funds remaining after Round 1, then Round 2 applications will be reviewed by the EDC at their April 2023 meeting.
• The applicant will be notified of the EDC decision within 48 hours of their meeting.
• Upon notification, the applicant will have 6 months (180 days) to fully complete the proposed project and submit reimbursement materials. If the applicant needs an extension, applicant can request a one-time 90- day extension.
• Upon receipt of completed and accurate reimbursement request, the grant payment will be issued to applicant within 45-days.