Department of Commerce is offering development grants in North Central Empowerment Zone

The Philadelphia Department of Commerce and the North Central Empowerment Zone now have a rolling application process for its North Central Empowerment Zone Neighborhood Economic Development Impact Grant (NEDIG).

The Philadelphia Empowerment Zone program was established in 1994 as a community development and economic revitalization program, with empowerment zones in West Philadelphia, North Central, and along American Street.

The NEDIG funding is a competitive RFP process for both nonprofit and for-profit development.

For the grants, The Department of Commerce and The North Central Empowerment Zone Community Trust Board are providing up to $335,000 to developers. The grants are designed to provide gap financing for commercial or industrial real estate development projects (strictly residential projects are not eligible), and the projects must be new construction or substantial rehabilitation of a vacant building.

In addition, the development projects must be located within the NCEZ boundaries and show an impact to the neighborhood. Projects must meet the following guidelines:

• Create permanent jobs and economic opportunities within the community;
• Increase and sustain economic activity within the North Central Empowerment Zone;
• Leverage private resources for investment in the NCEZ;
• Significant renovation of a blighted property or new construction on a vacant lot.

Questions about the RFP can Mr directed to Aiisha G. Herring-Miller, Director of Economic Development Zones, ataiisha.g.herring@phila.gov or by phone at (215)683.2152.

Image via Commerce Department