The Downtown Retail Tenant Improvement (TI) Grant is designed to help grow a vibrant and thriving retail climate in Downtown Memphis. This program will support new retail, creative arts & entertainment, and food & beverage based businesses who choose to locate within key corridors and retail nodes.
The Retail TI Grant helps bridge the financial gap between property owner and tenant by providing financial assistance of up to $30,000 on qualified permanent improvements to the interior of a tenant’s space.
The Retail TI Grant program operates as a reimbursable grant. Following grant approval, the applicant may sign the lease and then begin interior work. After all interior work has been completed and the business is open, the applicant will submit receipts to the CCDC and demonstrate compliance with standard closing conditions. At that point, the grant incentive can be reimbursed.
The Retail TI Grant program will be used strategically in key corridors and retail nodes in Downtown Memphis to implement the recommendations of the DMC’s Retail Action Plan. Please note that this grant program is not an entitlement and not every application will be approved. The CCDC is purposefully concentrating the focus of the program in order to increase the impact of its investment. In most cases, properties need to be located within the Target Areas shown in Appendix II to be eligible. Exceptions may be considered for high-impact projects and strategic priorities. The Target Areas were determined in the Retail Action Plan based on market data and analysis.
In order to be considered potentially eligible for this Grant, the proposed ground-floor business must be (i) an approved retail, (ii) creative arts & entertainment, or (iii) food & beverage business. Funding decisions will ultimately be based on a variety of factors, including consistency with the DMC’s Downtown Master Plan, Retail Strategy, and availability of resources. Funding priority will be given to proposals that are filling a ground-floor space that has been vacant for 24 or more consecutive months.
The Retail TI Grant is designed to assist:
The Retail TI Grant is not designed to assist:
The Retail TI Grant is available from September 1, 2019 – August 31, 2021. The Grant is designed for tenants who will sign a lease with a minimum term of 12 months to occupy ground-floor space. Longer leases are preferred. Applicants must apply for, and receive approval of, a Retail TI Grant prior to signing their lease. Property owners who will also operate an eligible retail business on the ground-floor may apply for this grant.
Examples of eligible expenses under the Retail TI Grant include:
The following expenses are not eligible under the Retail TI Grant:
Grant amount maximum and formulas.
How to apply and additional information.
All information and the full application can be found here.