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Urban Retail Solutions :Anthony Stella : Highlights of City of Cleveland Retail and Incentives


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Anthony Stella is a project coordinator with the small business section of the City of Cleveland, Department of Economic Development. He has worked in the Department of Economic Development since January 2012 and he has been assisting small business owners with establishing or expanding their business in the City of Cleveland. Stella helps entrepreneurs and small businesses in his role with the Department of Economic Development and by serving on the Loan Review Committee for the Economic and Community Development Institute (ECDI), a micro-lender.

The Urban Retail Solutions Conference was on June 20, 2013 at the Ariel International Center located at 1163 East 40th Street, Cleveland, OH.

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Urban Retail Solutions :Anthony Stella : Highlights of City of Cleveland Retail and Incentives

  1. 1. Financial resourcesfor retail businessesin the City ofClevelandJune 20,2013The City of ClevelandDepartment of Economic Development
  2. 2. Neighborhood RetailAssistance Program Started in 2006 to addressretail needs in Clevelandneighborhoods Program goals include: Fosteringentrepreneurship Improving economicvitality, vibrancy andimage of neighborhoods Job creation (smallbusinesses create morejobs than any othersegment)
  3. 3. Neighborhood RetailAssistance Program Provides GAP financial assistance tosmall retail businesses and restaurantsin Cleveland Assistance provided to developers withretail projects or directly to retailbusinesses Up to $40,000 at 3% interest / partialforgiveness with green or sustainableelements
  4. 4. Neighborhood RetailAssistance Program Eligible uses: Construction/renovation Machinery/Equipment Furniture/ Fixtures Signage
  5. 5. Vacant Property InitiativeLocal Parking Needs Forgivable loanavailable to businessowners, CommunityDevelopmentCorporations (CDC’s)and retail developers Established to addressparking needs in urbanneighborhoods Parking must be opento the public
  6. 6. Vacant Property InitiativeLocal Parking Needs $70,000 maximumforgivable loan Up to 25% ofparking projectcost Landscaping andgreen elementsencouraged
  7. 7. Storefront RenovationProgram Rebate program throughDepartment of CommunityDevelopment Projects in Retail Target Areasare eligible for 40% rebate up$25,000 Exterior construction costs only Free design assistanceprovided for exteriorrenovations
  8. 8. Storefront RenovationProgram Program benefits: Bringing storefronts into Code compliance Renovation of architectural and/or historicdetails Improves shopping districts in the City
  9. 9. Economic and CommunityDevelopment Institute Non-profit economic development organization Founded in 2004 in Columbus, Ohio Entered Cleveland market in 2012 Microloans for startup retail up to $50,000 Up to $150,000 for existing businesses
  10. 10. Economic and CommunityDevelopment Institute Business plan assistance available 6 week business training offered Contact information:(216) 912-5655
  11. 11. Growth Capital Non-profit providing SBA financing Retail funding available through CommunityAdvantage Program Loan amounts from $50,000 - $250,000 Eligible uses: Acquisition of owner-occupied building Construction/ Renovation Machinery/Equipment; Furniture/Fixtures Inventory, Working Capital Refinance
  12. 12. City of Cleveland