More than three times as many applications came in for a City of Red Deer grant to help entrepreneurs open a business in the downtown than there's money in the fund.
"We were thrilled with the response," said City of Red Deer community development superintendent Bobby-Jo Stannard. She noted a total of $36,000 was made available for dispersal in 2024 from the city's Empty Spaces grant program. By comparison, if all the funding requests that came in this spring were added up and approved, it would have added up to $112,000.
Given the huge interest from entrepreneurs, Stannard hopes more money is approved for the Empty Spaces grant program for 2025 to help fill some of the vacancies at the city's core with new businesses.
Under the program's terms, business owners can apply to get up to a $10,000 grant to help pay half their rent for their first six months of operation.
Stannard said the Empty Spaces grant was supposed to be given out a few times in 2024. But due to the high demand in the first application period this spring, all of this year's money has already been allocated. The successful businesses will be announced in the coming weeks on the city's website.
Last year, six new downtown businesses were launched with help from this grant, and five are still operating, said Stannard. Feedback has been very positive, with many of the entrepreneurs saying they otherwise would not have been able to launch their ventures, she added.
Applications are assessed according to a pre-set criteria, which gives more points to businesses that open on main streets and that offer retail, food and beverage or entertainment goods or services.
The City of Red Deer also offers a Downtown Four Seasons Activation Grant, with a total of $24,000 available for distribution this year. Stannard said the applications just closed on May 1 so the selection process has not yet been completed. Successful applicants should be notified by June 1.
Last year, these grants were used to kick-off a number of initiatives. These include holding a large downtown scavenger hunt (partnership between public library, Red Deer Arts Council and downtown business association), having a Community Connections, Cafe Storytelling event (Africa Caribbean Centre), purchasing downtown planters, and paying performers and for public art supplies at Paradise Plaza on 49th Street.