The Colorado Department of Local Affairs (DOLA) with funding from SB21-252 will support efforts by local governments and regional collaborations to engage in small business relief through “Main Street: Open for Business.” This Initiative supports façade improvements and energy efficiency projects for businesses in the state’s traditional downtowns.
The program is designed to:
● increase property values and visual appeal
● increase sales and revenues in rehabilitated buildings
● reduce energy consumption and lower utility bills
● increase job retention/creation
Grants under SB21-252 are prioritized toward communities with multiple projects in their applications that will provide a catalytic ripple effect of investment in downtown districts.
While originally set up as a rolling grant program, the first deadline (Aug. 23) saw an overwhelming demand, and we do not anticipate having any funds remaining for additional rounds. MSOB received 48 applications representing 380 businesses, with $21 million requested, and only $5.97 million to award.
(Note: An additional $750,000 was available for Heritage Energy Pilot Projects (https://cdola.colorado.gov/heritage-energy), competitively selected by a multi-agency committee earlier in 2021.)
Awards should be announced in late September or early October.