Grant Opportunity: 2024 Boost! North Street Cohort
Downtown Pittsfield, Inc. (DPI) and the Pittsfield Economic Revitalization Corporation (PERC) are co-facilitating the 2024 Boost! North Street Cohort made possible with funding from MassDevelopment’s Transformative Development Initiative (TDI).
Competitive grants of $7,500 will be awarded to ten North Street businesses who are accepted into the 2024 Boost! North Street Cohort. Awardees will be required to attend one mandatory in-person cohort meeting on June 4, 2024 (either session: 9AM-12PM or 5-8PM) and engage in at least two one-on-one Zoom meetings with a business consultant to guide district business improvements and use of funds towards one of the following categories:
- Sales, Marketing and Digital Presence
- Financial Organization or Growth Strategy
- Website and eCommerce Development
- Operations and Workflow
Businesses in the cohort will be required to file a final budget or application with administrators upon completion of consulting to access funding. This grant is now open, and the application is due on April 30, 2024 at 11:59 pm. Grant awardees will be announced on May 15, 2024.
Eligibility
- Established physical location in the TDI district (link to map: https://bit.ly/4cpjkjt) prior to April 2023.
- Have an active lease in the TDI District
- Independently owned (not a franchise or chain)
- Storefront business and upper-level businesses that can demonstrate they bring significant foot traffic to the district are eligible to apply
- Business annual net income not exceeding $2 million in 2023, net worth not exceeding $18 million.
Information About Funding
- Those invited to join the Boost! Cohort will be awarded $7,500 of funding for eligible expenses directly related to required business consultation.
- Eligible expenses include: equipment, new lines of inventory, website development, programs to support day to day business operations, marketing campaigns, professional services (accountant, bookkeeper, digital marketing professional, etc.), physical improvements, signage, any expenses directly recommended by business consultant.
- Ineligible expenses include: rent, payroll, expenses that do not fall within the intent of the grant program.
Selection Criteria
- Applicant shows initiative and self-awareness about areas to be improved
- Shows appropriate use of funding that promotes the intention of the grant to: help businesses grow and expand, create jobs, promote sustainability, obtain a sense of security, promote North Street ecosystem building (foot traffic and collaboration)
- Feasibility of proposed project
- Ability to complete and spend funding in a six-month timeframe
- Clear purpose
- Answers provided are detailed
To access the online application in English, click here!
To access the online application in Spanish, click here!
Any grant-related questions may be directed to Rebecca Brien, Managing Director of Downtown Pittsfield, Inc., at 413-443-6501 or [email protected]
The Transformative Development Initiative (TDI) is MassDevelopment’s signature place-based economic development program for Gateway City downtowns and commercial districts. TDI uses an accelerator model, committing intensive resources for a defined period to real estate development, small business stability and growth, arts and cultural amenities, placemaking, and targeted technical assistance and strategic planning. This work is laid on a platform of community engagement and partnership development; the agency requires that cities assemble a cross-sector partnership to apply, and over the course of the program works to make the partnership more representative of the neighborhood and use it as a platform to grow sustaining, working relationships.
In February 2024 MassDevelopment awarded $1,625,000 in grants to 13 organizations – including $125,000 to the Downtown Pittsfield Cultural Association, Inc. – for small-business support programs in Gateway Cities like this.
Pittsfield Economic Revitalization Corporation (PERC)’s primary purpose is to further the economic development and social welfare of the City of Pittsfield and Berkshire County to increase employment opportunities and facilitate growth and development of small businesses. PERC provides direct loans and access to a variety of public loan programs to help businesses that are unable to obtain conventional financing. PERC offers several programs as assistance to entrepreneurs locating or expanding businesses in Pittsfield and Berkshire County. Each program has project eligibility requirements and most require a job creation commitment.
The mission of Downtown Pittsfield, Inc. (DPI) is to strengthen and promote Downtown Pittsfield, Inc.’s membership through advocacy, collaboration, and celebration.
Since 1983, Downtown Pittsfield, Inc. has been the recognized leader, facilitator, and principal advocate for downtown. DPI is a membership organization consisting of property owners, businesses, residents, cultural & entertainment venues, restaurants, and non-profit organizations who have joined forces to increase economic activity by promoting downtown as a great place to live, work, and play.