In last night’s council work session the Council expressed interest to provide additional funding in the amount of $10,000 to assist in meeting the demand for the program.
The decision will be voted on the next week’s regular council session.
Established in Fiscal Year 2010, the City of College Park Commercial Sign Grant Program has provided businesses with up to $2,500 in dollar for dollar matching grants for the design, fabrication, and installation of storefront signs.
By providing signage incentives, the City is encouraging new and existing businesses to improve their streetscape appearance with quality design and materials. The program serves as a relatively affordable way to support our local businesses.
To date, the Commercial Sign Grant Program has provided $36,463.88 in matching grants to 17 different businesses. The majority of grant recipients are located in Lower Midtown and Downtown, with 8 and 7 businesses, respectively.
Several new businesses have expressed interest in the program and are expected to apply should funds become available. Additionally, there are several deals in the works to occupy formerly vacant spaces, so there should be numerous candidates for the program. For Fiscal Year 2012, the program received $10,000 in funding, which has all been awarded to businesses. In order to continue the popular program, additional funding is needed to accommodate further applications.
Unfortunately, out of 17 businesses who took advantage of the program, only one (Azteca Restaurant) business operates in north College Park. That means, we’ll have to work harder to get more businesses in north College Park take benefit of this program.
Fiscal Year 2013 funds, if appropriated, would not be available until July 1, 2012, which leaves several months where no grants can be awarded if additional funding is not provided.