The Lease It Local program aims to:
- Create opportunities for residents to lease space for their entrepreneurial ventures;
- Encourage property owner reinvestment; and
- Enhance the overall vibrancy of downtown.
DevelopSpringfield's Lease It Local program will provide:
- Rental subsidy up to 50% of monthly lease with a cap of $500 / month. Subsidy can last for as little as 3 months up to 12 months with a total cap of $6,000 per business.
- Business also eligible for grants covering up to 50% of professional services with a cap of $750 per business.
Eligible applicants include independent operators (no franchises or chains), artists, or social enterprises. While all industries are welcome, the program emphasizes uses drive daily foot traffic and preference is given to Springfield residents and those who have completed formal business training or mentoring. For more info on the program check out DevelopSpringfield's program page.
NP performed the project consulting on the Springfield TDI Partnership’s Active Implementation Plan that worked with the Springfield TDI Partnership for the district. A key action within the strategy was spurring retail frontage development including a subsidy program for potential tenants while the market was still being “proved.”