Sponsoring Agency: Town of Silverthorne
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 05/21/2021
Size of the Fund: Less than USD $50,000
The Town of Silverthorne’s ability to provide quality municipal services and infrastructure to the Silverthorne community is directly related to the economic success of the local business community. In order to assist the Town in meeting goals outlined in the Town’s Economic Development Element, the Town introduced the Silverthorne Business Grant Program in 2021.
The two-track program provides grants to businesses via a competitive application review process.
Track 1: The Town will consider providing Site Enhancement Grants to businesses that wish to install traditional site improvements such as facade improvements, art installations and other architectural upgrades.
Track 2: The Town will also consider Economic Development Grants to businesses that undertake capital investments (excluding working capital) that bring one or more of the following to Silverthorne:
• Addition of jobs to the local economy
• A unique amenity
• A regional draw
• Addition of vitality to the Town Core or other commercial district
• Diversification to the Town’s the economic base
*Although the priority for the grant program funding will remain focused on Site Enhancement and Economic Development Applications, the committee will consider applications that center on COVID-related opportunities.
Funding Information
• The program returns in 2021 with $40,000 available in grant funds.
• Grants are awarded in amounts up to $10,000; however, applications in excess of $10,000 may be considered for projects that provide exceptional benefit.
Criteria
• Site Enhancement Grants:
o Grant funds may be provided to a business upon completion of their project. See 'New in 2020' reference above. Upon completion of the grant project a business must provide copies of all paid invoices, including copies of cancelled checks and/or credit card receipts to receive grant funds. Funding timing may be adjusted, for instance 50% up front and 50% upon completion, if specific project constraints warrant.
o Grants are available to owner or tenant (if tenant applies, a minimum of two years must be remaining on lease, or an option to renew current lease, and written landowner permission must be provided.)
o All businesses must receive grant approval prior to beginning improvements to be eligible to receive grant funding.
o Site improvement work must be completed within six months of approval, or extension must be requested in writing.
o Projects selected for grant funding may be featured in Town promotional materials.
• Economic Development Grants:
o Economic Development Grant preference will be given to grant applications that most clearly demonstrate capital investments which are directly linked to the addition of jobs in Silverthorne.
o All businesses located in commercially zoned areas are eligible to apply. (Applicants must be in good standing with Town. Properties with outstanding code violations, delinquent sales taxes, or expired business licenses are not eligible to apply.)
o Proposed capital investments must meet all current Town codes. Site plan modification fees will be waived for approved grant improvements. The applicant is responsible for obtaining all building and other required permits before any project work commences.
o Eligible uses of Economic Development Grants include, but are not limited to, new construction of building/fixed assets and building expansion.
o Grant funds may be provided to a business upon completion of their project. See 'New in 2020' reference above. Upon completion of the grant project a business must provide copies of all paid invoices, including copies of cancelled checks and/or credit card receipts to receive grant funds. Funding timing may be adjusted, for instance 50% up front and 50% upon completion, if specific project constraints warrant.
o Grants are available to owner or tenant (if tenant, a minimum of two years must be remaining on lease, or an option to renew current lease, and written landowner permission must be provided.)
o All businesses must receive grant approval prior to making capital investments to be eligible to receive grant funding.
o Capital Investments must be completed within 6 months of approval, or extension must be requested in writing.
o Projects selected for grant funding may be used in Town promotional materials.
More information at: https://www.silverthorne.org/business/business-incentive-programs/business-improvement-grant-program
