Program will target 10-15 businesses in Medford’s commercial districts each year.
Funding provided through CDBG grants, casino mitigation funds and matching funds.
MEDFORD – The City of Medford is launching a new program to support small businesses, Mayor Lungo-Koehn and Economic Development Director Viktor Schrader announced this week. As part of the City’s ongoing commitment to support local businesses, and to create new opportunities for growth, the City is launching a Façade Improvement Program in 2022 for local storefront businesses. A façade improvement program is an incentive program created to encourage property and business owners to improve their building storefronts. Exterior improvements to buildings in a commercial area can lead to revitalization of neglected or older commercial districts and help small businesses improve visibility and curb appeal.
The grants will be structured as a reimbursement of a property or business owner’s investment, with the city matching a portion of qualifying expenses. Through Medford’s inaugural program, the city will fund 10-15 businesses in Medford’s business districts. Improvements eligible for funding will include installation of awnings, exterior painting, restoration and repair of exterior finishes, installation of signage, installation of lighting, among other improvements. The program will be funded through Community Development Block Grants and Encore Casino mitigation funding provided to the City of Medford.
“We have been and will remain committed to supporting and assisting our small businesses in any way we can, especially as our community continues to recover from the impacts of the global pandemic on our local economy. A façade improvement program is just one more small but meaningful way we can provide resources to business owners where they may be needed. I am thankful to our Economic Development Director, Viktor Schrader, and to our amazing team in the Office of Planning, Development, and Sustainability who continue to prioritize our small businesses who contribute so much to the Medford community,” said Mayor Lungo-Koehn.
“Façade grant programs are a common and highly productive economic development tool because they help revitalize neighborhoods and support local businesses owners. It’s a real win-win. I look forward to working with our business owners, and to see the impact this program will have on our squares over time.” said Mr. Schrader.
More information on the program will be released in the coming months with the initial round of grants expected to be announced in the spring of 2022. Interested businesses are encouraged to contact the Office of Planning, Development and Sustainability.
Medford city services are available to all residents, regardless of race, ethnicity, sexual orientation, religion, age, language ability, economic situation, or immigration status.