Norwich — The application process for the new Norwich Revitalization program will open Monday and run through April 14 for projects such as commercial building upgrades and business expansions.
The Norwich Community Development Corporation is administering the program, funded with $2 million from the city’s American Rescue Plan federal coronavirus recovery grant.
“Businesses both large and small and the city at large will benefit from this creative development program,” NCDC President Kevin Brown said in a news release. “We appreciate the business community’s patience as we did our due diligence and framed up this program.”
The program is designed to reduce the risks and costs of making commercial spaces tenant-ready. Approved projects will allow property owners and businesses to update their commercial space for new businesses or expansion of existing businesses.
Recipients will be reimbursed in 50% matching grants, with a cap of $300,000, for building code correction and vanilla box renovations that prepare spaces for future use, with improvements such as flooring, lighting, HVAC and cosmetic enhancements.
Project costs will be estimated by the applicant, verified by an independent technical assistance team, and paid out only upon the completion of the approved work. The NRP also can be combined with Norwich Public Utilities incentives, rebates and programs.
The application form can be found on the NCDC website, askncdc.com, under “Planning & Development.”
The Business Review Board evaluations are scheduled for March 14, April 14 and May 16. The evaluations will determine the best use of available funds from among the applications received. Early application is encouraged. Final selections will be announced tentatively by May 20.
For more information, contact NCDC at (860) 887-6964 or info@askncdc.com.