Norwich, CT – Norwich Community Development Corporation (NCDC) is pleased to announce the opening of the application window for the Norwich Revitalization Program on February 14, 2022. Norwich Community Development Corporation Open Application for Norwich Revitalization Program
Kevin Brown, President of NCDC issued the following statement: “We are thankful that the Norwich City council passed a resolution on September 20, 2021, to utilize American Rescue Plan funds to revitalize Norwich. Businesses both large and small and the city at large will benefit from this creative development program. We appreciate the business community’s patience as we did our due diligence and framed up this program.”
The Norwich Revitalization Program (NRP) is a new incentive program created to reduce the risks and costs of making commercial spaces tenant ready. Approved projects will allow property owners and businesses to update their space with the end goal of creating available and accessible commercial space for new businesses or expansion of existing businesses.
The NRP is a reimbursement style grant for projects geared towards 2 categories – Code Correction and Vanilla Box, along with grants for special enhancements or improvements.
Code Correction focuses on bringing spaces into code compliance in the areas of electrical, fire, and ADA accessibility. Vanilla Box assists with preparations such as flooring, lighting, HVAC, and other cosmetic enhancements.
NRP guidelines allow for a 50% match on up to $85 per square foot with a $300,000 total reimbursement cap allowed for any one project. Project costs will be estimated by the applicant, verified by an independent technical assistance team, and paid out only upon the completion of the approved work. The NRP can also be combined with Norwich Public Utilities incentives, rebates, and programs.
The interest form can be found on the NCDC website – https://askncdc.com/programs-incentives/revitalization-program/
The application window opens on February 14, 2022 and closes on April 14, 2022. The Business Review Board evaluations are anticipated to take place on March 14, April 14, and May 16, 2022. The evaluations will determine highest and best use of available funds from among the applications received. Early application is encouraged. Final selections will be announced tentatively by May 20, 2022.
Interested parties can learn more about this unique development program by contacting NCDC at 860-887-6964 or info@askncdc.com.
NCDC is proud to partner with the City of Norwich, property owners, developers, and entrepreneurs to continue to revitalize our community.
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ABOUT NCDC
The Norwich Community Development Corporation (NCDC), led by business and civic leaders, has over forty years of experience in creating opportunities for business. NCDC has been responsible for several development initiatives in Norwich including the creation of over 45 business locations and 2,300 jobs in the Stanley Israelite Business Park; the Mercantile Exchange building- a 100,000 square foot class A office building and the Norwich Superior Courthouse - both constructed in the heart of historic Downtown Norwich.
In addition, NCDC was instrumental in securing and managing funding for both the renovation of Otis Library and the Norwich Marina. NCDC is proud of its reputation for being active in developing relationships and collaborating with the City for the betterment of Norwich and for partnering with the City and Norwich Public Utilities to create a place where businesses grow and thrive. We know how to get things done.
