Partnership To Pay Rent For Two New Howell Businesses
January 28, 2019
For those thinking about starting a small business in downtown Howell, a new program could help pay rent.
The Downtown Howell Subsidy Program is geared towards retail, dining, arts and entertainment-based businesses looking to locate their business in downtown Howell. An update on the program was given at Wednesday’s Downtown Development Authority Board Meeting. Through the support of Lake Trust Credit Union, Howell Main Street Inc. will be able to provide rental assistance for up to the first 12 months that the business is in operation. Only two businesses will be accepted and funded under the program for the 2019 pilot program. The selected businesses will also receive a one-year membership to the Howell Area Chamber of Commerce. Howell Main Street Chief Operating Officer Cathleen Edgerly told WHMI the program idea was born out of past conversations with different partners in the state and modeled after some of the best ideas from across the country…
“We are partnering with our small business to drive the business our community continues to tell us they want to see, focusing on dining, retail, arts and cultural institutions as well. Bringing in the chamber in that too, we’re really excited to have them offering membership to up to two businesses. That’s how many we are allowing in this program for the first year just so we can make sure everything is working well, that it is affordable and we’re setting up these small businesses for success so they can continue to be a part of our downtown for years to come.”
Edgerly tells WHMI that the rental program was developed because they wanted to help small businesses but also help drive the types of businesses they want to see as well as those the community has indicates it wants to see…
“We are very fortunate to have one of the lowest vacancy rates in the state at about 1.5 percent right now, which presents challenges, but also opportunities to get really creative and focus on what we want to see for the future of our community. What types of businesses are really going to make downtown Howell an everyday destination for our residents and our visitors?”
The rental assistance program is the first of its kind to debut in Michigan. Howell will pilot the program and after the initial year plans to work with Lake Trust, the Michigan Economic Development Corporation, as well as the Michigan Main Street Center to offer a similar program in other communities. Applications and program details are available through the link below. (AV)