landlord property improvement grant Program

Assists property owners with improvements to real property.

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The purpose of the Moberly Depot District Landlord Property Improvement Grant Program is to assist
property owners with improvements to real property within the Downtown Moberly Community
Improvement District. Priority focus will be on properties identified for commercial lease to business
ventures whether for profit or non-profit. Funds for this program are provided by the Moberly
Downtown Community Improvement District.

The following objectives, guidelines, and requirements govern the Landlord Property Improvement
Grant Program. Moberly Area Economic Development Corporation (MAEDC) will be responsible for
accepting, reviewing, and approving applications submitted by downtown property owners.

 

Objectives:
1. Promote greater investment in Downtown Moberly.
2. Promote interior upgrades to commercially leased buildings.
3. Promote and incentivize higher quality and more affordable commercial lease space.
4. Encourage the use of local contractors.
 

Guidelines & Requirements:

• To be considered, an application must be received before construction work begins unless extenuating circumstances (i.e., new ownership of a property) are approved by MAEDC.

• Preference will be given to projects that promote program objectives.

• Acceptable projects include but are not limited to interior upgrades such as painting, wall and ceiling improvements, flooring, lighting fixtures, etc.

• The property owner would be required to invest in interior upgrades an amount equivalent to six months of the standard property lease rate or a minimum of $3,000, whichever is larger, and would subsequently qualify for 50 percent grant reimbursement of the investment up to a maximum $5,000 grant.

• The grant would be reimbursed in a lump sum to the property owner after the project is complete, required reimbursement paperwork submitted, and an executed leasing contract in place and provided to MAEDC.

• A property owner/manager may apply for both the Landlord Improvement Grant and one large OR one small Private Property Improvement Grant per property in a given City of Moberly fiscal year.

• This grant may be available per tenant changeover but no more frequently than every two years for the same property.

• The purpose of the grant is to promote upgrades to marketable commercial lease space, not to fund enhancements to space that is owner-occupied or leased from an owner to a tenant that is controlled by or otherwise substantially related to the owner. Applications will be preferred for projects that will only improve space subject to arms-length leases. Projects will also be considered that will improve both owner-occupied space and arms-length leased space in the same building, but if awarded, the grant will be pro-rated (for example, if a landlord owns a 5,000 square foot building and utilizes 1,000 square feet for the landlord's business and rents the other 4,000 square feet, and the project would improve all areas of the building equally, the grant award would be reduced by 20%).

• A summary of the proposed renovation/rehabilitation project must be submitted with the application.

• Applicants must adhere to applicable Moberly ordinances and code enforcement requirements set forth by the city.

• Applicants must be current on all Randolph County real property tax payments for properties owned within the Downtown Moberly Community Improvement District to qualify for project reimbursement.

• Approved applications must be in good standing with the City of Moberly utility billing.

• After the application is approved and before reimbursement can be made, documentation of the paid project expenses must be provided in the form of paid invoices and copies of checks rendered for payment (front & back) or credit card receipts and credit card statements showing payments made.

• Contractors must provide waiver of liens for all work completed prior to reimbursement being made.

• Applications will be scored utilizing the accompanying example scoring rubric.

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For Additional Information, Contact:

Randy Asbury
Moberly Area Economic Development Corporation
115 N. Williams St.
Moberly, MO 65270
660-263-8811
rasbury@moberly-edc.com