Money For Little Tokyo Businesses
On April 24th at the Little Tokyo Business Association (LTBA) meeting, the Community Redevelopment Agency (CRA) released information stating that Little Tokyo businesses and property owners working to improve the area will have easier access to CRA grant money to pay for some of the costs to do so. Based upon amendments made to the Exterior Building Improvement Program, businesses within the boundary area of First Street to Third Street and Los Angeles Street to Alameda Street will qualify for such funds. The funding programs will:
1. Provide a Commercial Facade and Signage Grant not to exceed $25,000 per storefront or tenant;
2. Provide a First Time Business Move-in Grant of up to $10,000 for interior improvements;
3. Provide interest write-downs on FHA Title I Commercial Loans. This Program is available for Project Area property owners to repair and upgrade businesses in amounts of up to $25,000 with a 20 year repayment schedule; and,
4. Provide a Replacement of Illegal Signage Grant of up to $1,000. This program will offer a grant to owners or tenants for the removal and replacement of illegal signage.
The Little Tokyo Community Development Advisory Committee (LTCDAC) and LTBA are jointly sponsoring a workshop to have representatives from CRA assist Little Tokyo businesses interested in applying for the funds. The workshop is tentatively scheduled for mid-June.
CRA has provided numerous grants for other programs within Little Tokyo as well. They helped fund the Little Tokyo Public Safety Association; Japanese American National Museum; the Union Center for the Arts on San Pedro Street now under construction; Casa Heiwa on Third Street which is completely filled; and the Business Improvement District, just to site a few examples.
For more information, please contact Esther Santos, Financial Counselor of the CRA at (213) 977-1719. If language may be a problem, contact Gloria Uchida, Project Manager, at CRA (213) 977-1690.
[ Little Tokyo News * Volume 2 Issue 3 ]