DMPED FY24 Business Funding Opportunities

Various existing and new grant programs and procurement opportunities for DC businesses will be available through the DMPED cluster in fiscal year 2024. See below for the calendar and program descriptions.

COMMERCIAL PROPERTY ACQUISITION FUND (DMPED)
The Commercial Property Acquisition Fund provides eligible businesses with down payment assistance of up to $750,000 or 25% of the sale price, whichever is less, for the acquisition of commercial property in the District. Businesses must be eligible to be an equity impact enterprise. An equity impact enterprise is a resident-owned, small business that it is at least 51% owned by an individual who is, or a majority number of individuals who are economically disadvantaged or have been subjected to racial or ethnic prejudice or cultural bias. Businesses must also complete a mandatory training program in order to apply for the Fund.

STATUS: OPENING JANUARY 2024

DMPED is partnering with City First Enterprises to administer the Commercial Property Acquisition Fund. For all inquiries related to the Fund, contact: CPAF@cfenterprises.or


CREATIVE AND OPEN SPACE MODERNIZATION GRANT (DMPED)
The Creative and Open Space Modernization (COSM) tax rebate is an incentive program designed to support the growth of large companies in the District. The tax rebate can support large scale capital investments in a company’s business location. Qualifying companies are eligible for an annual rebate for up to five years equal to the lesser of the company’s real property tax obligation, 10% of its tenant improvement costs, or $1 million. COSM is available to companies in eligible industries that commit to leasing at least 50,000 square feet for a minimum of 12 years.

STATUS: OPEN


GREAT STREETS RETAIL SMALL BUSINESS GRANTS (DMPED)
The Great Streets Retail Small Business Grant provides funding for small businesses in designated commercial corridors to make capital improvements in their business and create new job opportunities for District residents. Eligible businesses operate from a physical location in a Great Streets corridor and are for-profit retail or service-oriented businesses, or nonprofit arts and humanities organizations. Learn more at greatstreets.dc.gov.

 STATUS: OPENING JANUARY 2024

 Is your business located in one of the Great Streets Corridors? Enter your business address in the interactive mapping tool to verify.

 For all other questions, email GreatStreets@dc.gov.


INCLUSIVE INNOVATION EQUITY IMPACT FUND (DMPED)
The Inclusive Innovation Equity Impact Fund provides financial support to entrepreneurs that lack access to traditional forms of capital, in the form of revenue or equity-based financing. Companies must be eligible to be equity impact enterprises (EIE) An equity impact enterprise is a resident-owned, small business that it is at least 51% owned by an individual who is, or a majority number of individuals who are economically disadvantaged or have been subjected to racial or ethnic prejudice or cultural bias.

 View more information and apply here. DMPED is partnering with 1863 Ventures to administer the Inclusive Innovation Equity Impact Fund.

 STATUS: OPEN

Opened: October 16, 2023


LOCALLY MADE MANUFACTURING GRANT (DMPED)
The Locally Made Manufacturing Grant program supports local businesses that are located in a Great Streets corridor that engage in light manufacturing, by providing funding for capital or tenant improvements of commercial property with a designated industrial use. This grant is intended to grow the District’s local business economy, bolster manufacturing, and strengthen supply chains within the city.

STATUS: OPENING JANUARY 2024

Is your business located in one of the Great Streets Corridors? Enter your business address in the interactive mapping tool to verify.

NEIGHBORHOOD PROSPERITY FUND (DMPED)
Neighborhood Prosperity Fund (NPF) incentivizes community development, economic growth, and job creation by providing gap financing for projects that attract private investment to distressed communities. Grant funds support architectural and engineering costs, construction costs, tenant improvements, historical preservation building improvements to maintain compliance with applicable laws, development analysis, rent abatement and/or tenant concessions for up to 3 years to stabilize market rent. Projects must be located within the Neighborhood Prosperity Fund boundary.

 STATUS: OPENING JANUARY 2024

 Is your project located in the Neighborhood Prosperity Fund boundary? Enter your project address in the interactive mapping tool to verify.


SPECIAL EVENT RELIEF FUND (DMPED)
Mayor Bowser and the Office of the Deputy Mayor for Planning and Economic Development (DMPED) launched the Special Event Relief Fund, a $1.5 million investment to support events that celebrate the culture of the District of Columbia and support local communities. The Special Event Relief Fund allows organizers of festivals and outdoor special events to apply for financial assistance to cover event expenses. More information is here.

 STATUS: OPEN

Opened: October 1, 2023
Closing: September 1, 2024

 Apply Here!

To be eligible for the Special Event Relief Fund, applicants must meet the following criteria:

  • The outdoor event must occur between October 1, 2023 – September 30, 2024.

  • Events must be free and open to the public. Events that are ticketed, but include at least a component that is free and open to the public, may be eligible for partial fee coverage.

  • Events must celebrate the culture of DC or be able to demonstrate that the event will have significant economic impact on the District.

  • The main purpose of the event should not be to generate revenue or serve as a fundraiser for an organization.

  • The event must be committed to fostering an inclusive experience.

  • The event cannot be religiously affiliated in a way that excludes other faiths or forms of belief, or lack thereof.

  • The applicant must be the event organizer.

  • Events must receive DC Government services from at least one of the eligible agencies: MPD, FEMS, DPW, DDOT, DPR, DOH, ABCA, DLCP, DOB

All eligible events will need to meet the following requirements:

  • All events must be approved for a DLCP Special Events License. More information can be found here. 

  • If the event requires street closures of any kind, the event must be approved by the Homeland Security and Emergency Management Agency (HSEMA) Mayor’s Special Events Task Group (MSETG). More information can be found here.

The application can be accessed here.  Applications will be reviewed on a rolling basis between October 1, 2023 – September 1 2024, based on the availability of funds. Applications must be submitted at least 30 days in advance of the event for events occurring November 15, 2023 and later.

Through the Special Event Relief Fund, DMPED may cover unpaid DC Government fees for special events (which may include permit fees, equipment rental, personnel costs, or other special event services) from the following agencies for approved events.

DMPED will pay these agencies directly and will not directly pay or reimburse the event organizer.

 For any inquiries regarding the Special Event Fee Relief Fund, please contact specialeventfund@dc.gov.

VITALITY FUND (DMPED)
The Vitality Fund is an incentive program that provides multi-year, performance-based grants to companies that relocate to or expand in DC and create new jobs, with a preference for companies that locate in the Vitality Fund Target Area. Companies must be in an eligible industry, have 25 or more employees, agree to occupy at least 7,000 square feet for five years, and commit to hiring and contracting locally.

 View more information about the Vitality Fund.

STATUS: OPEN

FUNDING ALERTAnacostia BIDDMPED