Business Growth Grant Program
The Town of Riverdale Park is soliciting grant applications from for-profit businesses in the Commercial and MUTC Zones in Town. This grant program is designed to assist businesses undergoing a significant renovation project(s) to enhance operations and promote economic activity. Examples of eligible uses include but are not limited to; interior improvements, project soft-costs, structural repairs or roof repairs. Ineligible uses include general operating expenses, utility bill payments, interest fees, or loan payments associated with the business operations.
1. The required match is 2:1 (Applicant:Town) for general renovation projects and 1:1 for renovation projects focused on preventing the spread of COVID-19.
2. Minimum investment of $10,000 for general renovation projects and $5,000 for projects focused on preventing the spread of COVID-19.
3. Maximum grant award of $5,000 for general renovation projects and $25,000 for projects focused on preventing the spread of COVID-19.
All programs and initiatives are subject to funding availability and the Town reserves the right to amend, modify or cancel this program at any time with or without notice.
1) Applications must be completed online or mailed to Town Hall (5008 Queensbury Road, Riverdale Park, MD 20737) or sent via e-mail to email@example.com.
2) A staff team will review the applications and make recommendations for funding to the Mayor and Council.
3) Grantees will be notified of the award.
4) The Town will disburse the approved grants.
Prior to submitting this application please note:
● Grantees must operate their business within the corporate limits of the Town of Riverdale Park and must be in compliance with all Federal, State, County and Town laws, codes, rules and regulations at the time of application and remain in compliance throughout the funding period.
● Grantees of this program cannot receive grant funding from other Town grant programs within the fiscal year. However, grant awardees may be eligible to receive assistance from the Town’s economic development initiative grants.
● Businesses must have an executed lease and are open and fully operational prior to the disbursement of grant funds.
● Grantees must continue to operate within the Town of Riverdale Park at least one (1) year after receiving this grant. Grantees who fail to comply with this provision will be subject to recoupment by the Town for the full grant amount.
• Grant funds are administered as a reimbursement. Grantees are required to submit proof of expenditures that match the grant application. Please contact the Office of Development Services at 240-825-5333 for any questions about this grant program.