Fillable REAL PROPERTY INVESTMENT GRANT

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REAL PROPERTY INVESTMENT GRANT

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The REAL PROPERTY INVESTMENT GRANT form is 18 pages long and contains:

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  • 60 check-boxes
  • 20 other fields

Country of origin: OTHERS
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REAL PROPERTY INVESTMENT GRANT
PROGRAM GUIDELINES & APPLICATION
The Real Property Investment Program is designed to assist new or relocating
businesses, expanding businesses, and commercial property owners with the
rehabilitation and redevelopment of interior and exterior spaces to visually enhance
the local streetscape, and increase interest in the City of Portsmouth. Eligible
improvements must be permanent and can include any combination of eligible
interior, exterior, signage, and security modifications or enhancements.
Eligible properties must be within Portsmouth City limits and can be commercial,
industrial, office, or mixed-use property.
Applicants who are new leaseholders and applying for grant funds for tenant
improvements prior to occupying the space must document in the lease that the
tenant is responsible for improvements.
Applicant and/or property may not have outstanding City taxes, fees, or code
violations (unless the grant is to be utilized to rectify code violations).
Property is an improvement or expansion into an existing space. (New
construction is ineligible.)
Maintenance-related work is not eligible.
Property owners, who are not the subject business owner, must improve vacant
space to:
Create a vanilla shell in order to market the property, or
Complete tenant improvements for an under-contract new tenant entering
into a lease.
Existing business owners expanding more than 30% of their current square
footage are eligible to apply.
Written approval is required prior to any work commencing.
R E A L P R O P E R T Y I N V E S T M E N T G R A N T
Program Guidelines & Application
For Fiscal Year 2022 (Beginning January 1, 2022 – June 30, 2022)
The Real Property Investment Program is a matching, reimbursement program
that requires the applicant to make the initial investment of the full project costs;
half of the eligible costs will be paid as a reimbursement, up to the maximum
grant amount.
The maximum grant award is $25,000 per property address, for eligible
improvements, for the life of the program.
If the maximum grant amount is not exceeded, applicants may re-apply for the
same property up to the $25,000 maximum total reimbursement.
In multi-tenant properties, no more than two (2) address locations may receive
funding within a five-year period.
Funding is available on a first-come, first-serve basis until the funding pool has
been exhausted each fiscal year as appropriated.
Upon written approval, applicants will have 90-days to complete eligible
improvements. If additional time is needed, a written request detailing the status
of the project, work remaining, and estimated timeframe of completion is
required from the applicant. Extension approvals must be sent in writing as a
matter of record-keeping.
Applicant must have all permits, inspections, and final Certificate of Occupancy in
order to request reimbursement.
Proof of costs paid by the applicant will be required before grant funds are to be
disbursed. Required documentation includes copies of contractor invoices,
canceled checks, bank statements and/or credit card statements that verify
payment. **Cash payments are ineligible for reimbursement.
Grant payments will not be made if improvements deviate from those outlined in
the application and Grant Agreement and/or have not been previously approved.
Grant funds are paid as a one-time reimbursement, not draws.
R E A L P R O P E R T Y I N V E S T M E N T G R A N T
Program Guidelines & Application
For Fiscal Year 2022 (Beginning January 1, 2022 – June 30, 2022)
Contracted labor related to any eligible improvements (including project
management fees)
R E A L P R O P E R T Y I N V E S T M E N T G R A N T
Program Guidelines & Application
For Fiscal Year 2022 (Beginning January 1, 2022 – June 30, 2022)
Interior:
HVAC systems
Interior Walls
Structural Improvements
Interior Plumbing
Interior Electrical/Lighting
Flooring
ADA Accessibility Modifications
Fire Suppression and Protection
Improvements
Permanent Fixtures and
Equipment (i.e. Exhaust Hoods,
Ductwork, Built-in Freezer, etc.)
Repair or Restoration of
Architectural Detailing
Security Improvements to
include entry hardware, access
control, cameras, etc. (max.
$2,500)
Exterior:
Decorative Fencing
Railings or Juliet Balconies
Exterior Lighting
Exterior Painting
Signage (max. $2,500)
Improvements correcting code violations
Permanent Hardscape Improvements (in
conjunction w/other improvements only)
ADA Accessibility Modifications
Masonry Repairs
Removal/Replacement of Architecturally
Inappropriate or Incomplete Exterior Finishes
and Materials
Restoration of Architectural Details or Removal
of Materials that Cover Architectural Details
Repair/Replace Windows and Exterior Doors
Roofing (in conjunction w/other improvements
only)
Screening of Service and Maintenance Areas
when visible from adjacent public areas
Window and Cornice Flashing and Repair (in
conjunction w/other improvements only)
Security Improvements to include entry
hardware, access control, cameras, etc. (max.
$2,500)
Utility Improvements (in conjunction w/other
improvements only)
Landscaping and Plants (max. $2,500; in
conjunction w/other improvements only)
Completed Real Property Investment Grant applications are to be submitted to
Portsmouth Economic Development for review and are not considered submitted if
incomplete. Completed applications (those containing all City approvals, all required
documentation, before photos, etc.) will be reviewed to determine completion status
and adherence with program guidelines.
Applications requesting less than $10,000 in funding may be approved
administratively by Portsmouth Economic Development staff. Applications over
$10,000 require consideration by the Economic Development Authority (EDA) Board
of Commissioners.
Within the application submittal, the applicant must outline which of the two quotes
provided will be used in the execution of the project. The Portsmouth EDA
encourages the use of Portsmouth businesses in the execution of projects utilizing
grant funds. To this end, the EDA Commissioners will look more favorably upon
projects that use materials and labor from Portsmouth businesses.
EDA grant approval is not a factor in obtaining other City approvals and the
qualification standards do not parallel.
Approval or denial of an application lies within the discretion of the EDA Board of
Commissioners, considering factors such as the degree to which the improvements
contemplated by the application further the goals of the program, the degree of the
need for the improvements, the level of funding requested, the amount of program
funds remaining for the year, and any other factors the Board may deem relevant.
With a finalized and completed application approved, the applicant moves into a
Grant Agreement with the EDA, agreeing to accept the grant funds approved by the
Authority and not to exceed 50% of actual, verifiable paid expenses up to a
maximum of $25,000. The Grant Agreement will establish the conditions of approval
and terms of grant disbursement. Under no circumstances will funds be disbursed at
a ratio higher than the matching requirements. Proof of costs paid by the
applicant will be required before grant funds are to be disbursed.
R E A L P R O P E R T Y I N V E S T M E N T G R A N T
Program Guidelines & Application
For Fiscal Year 2022 (Beginning January 1, 2022 – June 30, 2022)
R E A L P R O P E R T Y I N V E S T M E N T G R A N T
Program Guidelines & Application
For Fiscal Year 2022 (Beginning January 1, 2022 – June 30, 2022)
Applicant contacts Portsmouth Economic
Development to express interest in the
program, discuss its business plans, and
verify eligibility.
Step One
Applicant obtains required City approvals.
(Planning, Zoning, Building, etc.)
Step Two
Applicant completes application and
submits to Portsmouth Economic
Development for review.
Step Three
Applications requesting less than $10,000
in funding may be approved
administratively by Economic
Development staff. Applications over
$10,000 require consideration by the EDA
Board of Commissioners.
Step Four
If approved, applicant enters in a Grant
Agreement with the EDA.
Step Five
From the date of the signed Grant
Agreement, the applicant has 30 days to
begin the project and 90 days to complete
approved work. (Extension for an
additional 90 days may be granted.)
Step Six
Upon completion applicant contacts Economic Development staff to request
reimbursement and provides required documentation of project expenses.
Step Seven
D A T E R E C E I V E D ( T O B E C O M P L E T E D B Y P E D S T A F F ) : _ _ _ _ _ _ / _ _ _ _ _ _ / _ _ _ _ _ _ _
REAL PROPERTY
INVESTMENT GRANT
APPLICATION
A P P L I C A N T ( B U S I N E S S L E G A L E N T I T Y N A M E ) : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
P H Y S I C A L A D D R E S S O F B U S I N E S S : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
P O I N T O F C O N T A C T F O R A P P L I C A T I O N
C O N T A C T N A M E : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
C O N T A C T A D D R E S S : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
C O N T A C T P H O N E N U M B E R : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
C O N T A C T E M A I L : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
D A T E O F B U S I N E S S E S T A B L I S H M E N T ( A S A P P L I C A B L E ) : _ _ _ _ _ / _ _ _ _ _ / _ _ _ _ _ _
B U S I N E S S E M P L O Y E E I N F O R M A T I O N ( A S A P P L I C A B L E )
N U M B E R O F F U L L - T I M E E M P L O Y E E S : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
N U M B E R O F P A R T - T I M E E M P L O Y E E S : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
F U N D I N G A M O U N T R E Q U E S T E D : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
S T A T E M E N T O F N E E D & B U S I N E S S A C T I V I T Y D E S C R I P T I O N
I n c l u d e p h o t o s o f t h e s p e c i f i c a r e a s t o b e i m p r o v e d . P r o v i d e t w o q u o t e s f r o m
q u a l i f i e d c o n t r a c t o r s f o r w o r k t o b e c o m p l e t e d . P r o v i d e a p r o j e c t t i m e l i n e .
P l e a s e a t t a c h a d d i t i o n a l p a g e s , i f n e c e s s a r y .
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
S W A M , M i n o r i t y , W o m a n , V e t e r a n - o w n e d B u s i n e s s : Y e s N o
I f y e s , p l e a s e i d e n t i f y : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
ELIGIBLE IMPROVEMENTS – CHECK ALL THAT APPLY
Interior
Exterior
Safety/Security ($2,500 max)
HVAC
Repair/Replacement of Windows
and Doors
Lighting
Interior Lighting/Electrical
Signage ($2,500 max)
Cameras
Interior Plumbing
Exterior Painting
Security System (does not include
monitoring)
Flooring
Decorative Fencing, Railings, or Juliet
Balconies
Entry Hardware
Interior Painting Utility Improvements (in conjunction
w/other improvements only)
Interior Walls
Roofing (in conjunction w/other
improvements only)
Fire Suppression and
Protection
Repair/Restoration of architectural
detailing
ADA Accessibility Modifications
ADA Accessibility Modifications
Add Structural Improvements
Add Structural Improvements
Permanent Fixtures/Equipment
Masonry Repairs
Improvements in response to
Code Violations
Improvements in response to Code
Violations
Permanent Hardscape
Improvements (in conjunction
w/other improvements only
Landscaping and plants ($2,500
Max.; in conjunction w/other
improvements only)
Removal/Replacement of
Architecturally Inappropriate or
Incompatible Exterior Finishes
Window and Cornice Flashing and
Repair (in conjunction w/other
improvements only)
Screening of service/maintenance
areas when visible from public areas
Restoration of Architectural Details
or Removal of Materials that cover
Architectural Details
***Prohibited improvements include Billboards, Security Fencing, Fees Charged by the City of Portsmouth, Improvements in
Progress or Expenses incurred prior to application approval, New Construction.
A P P L I C A T I O N C H E C K L I S T ( T O B E C O M P L E T E D B Y A P P L I C A N T )
P r o p e r t y o w n e r o r t e n a n t i s w i t h i n t h e P o r t s m o u t h C i t y l i m i t s
P r o p e r t y i s a c o m m e r c i a l , i n d u s t r i a l , o f f i c e , o r m i x e d - u s e p r o p e r t y
A p p l i c a n t s w h o a r e n e w l e a s e h o l d e r s a n d a p p l y i n g f o r g r a n t f u n d s f o r t e n a n t
i m p r o v e m e n t s p r i o r t o o c c u p y i n g t h e s p a c e m u s t d o c u m e n t i n t h e l e a s e t h a t
t h e t e n a n t i s r e s p o n s i b l e f o r i m p r o v e m e n t s
A p p l i c a n t a n d p r o p e r t y m a y n o t h a v e o u t s t a n d i n g C i t y t a x e s , f e e s , o r c o d e
v i o l a t i o n s ( u n l e s s t h e g r a n t i s t o b e u t i l i z e d t o r e c t i f y c o d e v i o l a t i o n s )
P r o p e r t y i s a n i m p r o v e m e n t o r e x p a n s i o n i n t o a n e x i s t i n g s p a c e ( N e w
c o n s t r u c t i o n i s i n e l i g i b l e )
P r o p o s e d i m p r o v e m e n t s a r e n o t m a i n t e n a n c e - r e l a t e d w o r k
P r o p e r t y o w n e r s , w h o a r e n o t t h e s u b j e c t b u s i n e s s o w n e r , m u s t i m p r o v e
v a c a n t s p a c e t o :
C r e a t e a v a n i l l a s h e l l i n o r d e r t o m a r k e t t h e p r o p e r t y , o r
C o m p l e t e t e n a n t i m p r o v e m e n t s f o r a n u n d e r - c o n t r a c t n e w t e n a n t e n t e r i n g
i n t o a l e a s e
E x i s t i n g b u s i n e s s o w n e r s e x p a n d i n g m o r e t h a n 3 0 % o f t h e i r c u r r e n t s q u a r e
f o o t a g e a r e e l i g i b l e t o a p p l y
P r o p o s e d i m p r o v e m e n t s h a v e n o t c o m m e n c e d p r i o r t o a p p l i c a t i o n a p p r o v a l
a n d i s s u a n c e o f G r a n t A g r e e m e n t
E l i g i b i l i t y V e r i f i c a t i o n
( A p p l i c a t i o n C h e c k l i s t c o n t i n u e d o n N e x t P a g e . )
REAL PROPERTY
INVESTMENT GRANT
APPLICATION
A P P L I C A T I O N C H E C K L I S T ( C O N T . )
C o p y o f l e a s e ( i f a p p l i c a b l e )
C o p y o f c u r r e n t C i t y o f P o r t s m o u t h B u s i n e s s L i c e n s e ( i f a p p l i c a b l e )
C o p y o f “ A r t i c l e s o f I n c o r p o r a t i o n ” ( i f a p p l i c a b l e )
P r e - i m p r o v e m e n t p h o t o g r a p h s o f s p e c i f i c a r e a s w h e r e i m p r o v e m e n t s a r e t o
t a k e p l a c e
S p e c i f i c l i s t o f c o s t e s t i m a t e s o r q u o t e s f r o m t h e s e l e c t e d c o n t r a c t o r ( s ) - T w o
Q u o t e s R e q u i r e d
C o p y o f C o n t r a c t o r ( s ) V i r g i n i a D P O R l i c e n s e ( i f c o s t s e x c e e d $ 5 , 0 0 0 )
D r a w i n g o r r e n d e r i n g s n e e d e d o f p r o p o s e d i m p r o v e m e n t s
T i m e l i n e f o r C o m p l e t i o n
E v i d e n c e o f p r o p e r t y i n s u r a n c e
M a r k e t i n g p l a n ( f o r v a c a n t s p a c e )
C o m p l e t e d W 9
D o c u m e n t a t i o n o f r e q u i r e d C i t y o f P o r t s m o u t h A p p r o v a l s a n d P e r m i t s
( P l a n n i n g C o m m i s s i o n e r , D o w n t o w n D e s i g n C o m m i s s i o n , H i s t o r i c
P r e s e r v a t i o n , B u i l d i n g , Z o n i n g , e t c . ) a s a p p l i c a b l e
P r o o f o f f u n d s t o c o m p l e t e p r o j e c t
R e q u i r e d A t t a c h m e n t s
W o r k t h a t w a s s t a r t e d p r i o r t o a p p r o v a l
I n c o m p l e t e a p p l i c a t i o n s , w h e r e w r i t t e n a p p r o v a l w a s n o t r e c e i v e d
P r o j e c t s n o t c o m p l e t e d w i t h i n t h e s p e c i f i e d t i m e f r a m e d e s i g n a t e d
P r o j e c t s t h a t d o n o t r e c e i v e p e r m i t s , i n s p e c t i o n s , o r f i n a l C e r t i f i c a t e o f
O c c u p a n c y ( C . O . ) w h e n a p p l i c a b l e
P r o j e c t s w i t h o u t s t a n d i n g c o d e - v i o l a t i o n ( s ) , u n l e s s t h e p r o g r a m g r a n t w i l l b e
u s e d t o r e c t i f y s a i d v i o l a t i o n ( s )
A c k n o w l e d g m e n t o f D i s q u a l i f i c a t i o n F a c t o r s
( A p p l i c a t i o n C h e c k l i s t c o n t i n u e d o n N e x t P a g e . )
REAL PROPERTY
INVESTMENT GRANT
APPLICATION
_ _ _ _ _ _ _ P l e a s e i n i t i a l t h a t y o u u n d e r s t a n d a l l i t e m s t h a t w i l l r e s u l t i n
d i s q u a l i f i c a t i o n
A P P L I C A T I O N C H E C K L I S T ( C O N T . )
REAL PROPERTY
INVESTMENT GRANT
APPLICATION
C o p i e s o f i n v o i c e s r e l a t e d t o t h e p r o j e c t , m a r k e d “ P a i d i n F u l l ”
C o p i e s o f c a n c e l e d c h e c k s o r c r e d i t c a r d s t a t e m e n t s t h a t v e r i f y p a y m e n t ( s )
P o s t - i m p r o v e m e n t p h o t o g r a p h s ( t o b e t a k e n b y E c o n o m i c D e v e l o p m e n t S t a f f
m e m b e r )
V e r i f i c a t i o n p r o p e r t y i s f r e e o f o u t s t a n d i n g C i t y t a x e s , f e e s , o r c o d e
v i o l a t i o n s
C e r t i f i c a t e o f O c c u p a n c y r e c e i v e d a n d p r o v i d e d ( a s a p p l i c a b l e )
R e q u i r e d D o c u m e n t a t i o n f o r R e q u e s t i n g R e i m b u r s e m e n t
All property/business owners, partners, etc. must sign this application form. If the property is owned by
a legal entity, organization, or corporation, the applicant must supply corporate legal documents
authorizing signer. If the applicant is a tenant, the property owner must sign where indicated below to
consent to the application and the proposed improvements. If signing on behalf of an entity, please
state the entity name and your position after the signature. If there are any questions, please call
Portsmouth Economic Development at (757) 393-8804.
I have read and understand the program guidelines and application for the Real Property
Investment Program Grant. I understand that all grant awards are at the sole discretion of the
Portsmouth Economic Development Authority.
The undersigned understands and agrees that all information furnished in connection with this
application for the Real Property Investment Program involves the use of public funds and as
such, may be made public pursuant to the statutes of the United States of American, the
Commonwealth of Virginia, and the City of Portsmouth.
The application is not finalized until evidence of City approvals to commence improvements. The
applicant will have 90 days to complete work following approval.
Applicants may request ninety (90) day extensions. Requests for extension should be outlined in a
letter directed to the EDA staff, the City of Portsmouth Economic Development Office. The first
extension may be granted or denied by EDA staff as directed by the EDA. Any subsequent
extensions must be at the EDA’s sole discretion and will require a vote of the Economic
Development Authority Commissioners.
*Acknowledgement: I have read the program overview, and fully understand that adherence to
the process is my responsibility, and deviating from the process could result in disqualification of
reimbursement.
_________________________________________________ ________________________
Signature Date
_________________________________________________ ________________________
Signature Date
REAL PROPERTY
INVESTMENT GRANT
APPLICATION
_________________________________________________ ________________________
Signature Date
I certify that I am the owner of the real property which is the subject of this application. I hereby
consent to this application and the improvements contemplated herein.
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REAL PROPERTY INVESTMENT GRANT

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Completed 3 January 2022

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