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TKPK Business Investment Grant

Purpose

The TKPK Business Investment Grant (BIG) is available for businesses looking to locate, grow, or expand in the City of Takoma Park. Funds are intended to support capital expenditures and hard costs related to new business fit-out or existing tenant improvements.

How to Apply

Interested applicants can submit applications and supporting materials through the following TKPK Business Investment Grant web application.

Eligible Uses

The BIG Grant can be used for capital expenditures related to a business start-up, expansion, or relocation within the City of Takoma Park. Eligible expenses may include, but are not limited to:

  • Exterior Property Improvements: signage, lighting, ADA accessibility, repainting, awnings, windows/doors
  • Interior Fit-Out: display racks, seating areas
  • Capital Equipment: production equipment
  • Hard Costs associated with the activation of a previously vacant commercial property¹

¹Note that all applicants must have a Use & Occupancy Certificate and signed lease prior to the distribution of any Grant funds.

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Eligibility Criteria

In order to be eligible for the Grant, applicants must:

  • Be located in the City of Takoma Park;
  • Be in Good Standing with the State of Maryland and in compliance with all City, County, and State regulations;
  • Have a valid Use & Occupancy Certificate;
  • Have an actionable lease agreement or ownership deed to the property;
  • Submit actionable quotes for all eligible project components.

Additionally, applicants may not apply for any work or expenses that began prior to the approval of their Grant application.

Award Determinations & Process

Awards will be made on a case-by-case basis as long as funds are available. Upon submission of a completed application, City staff will review the application and make discretionary awards based on the following criteria:

  • Business Growth
  • Project Impact
  • Business Diversity (Minority or Local Ownership Statuses, Project Location)
  • Prior City Funding and Support
Questions

If you have any questions, please email the Economic Development Team directly at or call 301-891-7119.

 

Economic Development Sections