CITY OF ERLANGER DEVELOPMENT COMMONWEALTH AREA PROFESSIONAL DISTRICT CAPITAL IMPROVEMENT (CAP) INCENTIVE AND GRANT
The CAP incentive is available to certain qualified businesses located in the Residential to Office Conversion Zone and the Mixed-Use Zone to promote job creation and capital improvements in the Commonwealth Avenue area.
Eligibility
To be eligible, businesses must meet all of the following:
- Be a new business or an expanding business converting a residential structure into a commercial office (change of use) or constructing a new commercial building in the Residential to Office Conversion (ROC) Zone or the Mixed-Use Zone (MU) within the City of Erlanger.
- Be a business in good standing and licensed by the Secretary of State, Kenton County and the City of Erlanger.
- Have a minimum of 2 full-time employees or equivalent.
- Not be receiving state incentives involving city occupational license fees.
- Not have received an Erlanger Small Business Grant or Incentive within the current fiscal year (businesses may qualify for one, but not both incentives within a fiscal year).
- The building must be owned by the occupying business or leased to a business operation with a minimum of a three year lease agreement. The building must not have residential occupancy at the time of reimbursement of grant funds.
Incentive Details
Businesses may request a reimbursement of up to 50% of capital improvement expenses up to $40,000 ($20,000 maximum reimbursement) associated with conversion of a structure from residential to commercial or for construction of a new commercial building. Those expenses eligible for the reimbursement include visible exterior improvements such as signs, parking lots, exterior lighting and walkways. Fixed interior improvements such as removal or replacement of walls, flooring, cabinets, bathroom and break room fixtures are also eligible. Furniture, kitchen equipment and other movable equipment is not eligible for consideration in the total qualifying expenses.
Application Requirements
To apply, the following information must be submitted to the Director of Economic Development:
- A completed application form
- Cost estimates and description of the proposed improvements or construction activities.
- A description of the business including the business activity to be conducted on premise as well as verification of licenses to conduct business
- A copy of the deed or lease agreement
- A W-9
Questions regarding this program may be directed to Mark Collier, Director of Economic Development, at 859-727-7995 or mark.collier@cityoferlanger.
