Unique small retailers have always been Packard Avenue's customer magnet. A new package of incentives increase the attraction.

Packard Avenue in Cudahy has long been known for distinctive, independent retail and service businesses that draw customers from all over Greater Milwaukee. We are now looking to expand on this base, by offering a set of attractive 2010 incentives to relocating or start-up businesses. Start or move your business anywhere along Packard between Cudahy and Holmes, and create your own incentive package from five options that could total as much as $57,300.*

• Design help
• Construction grants
• Lease buy-outs
• Low cost loans
• Moving assistance
• Business training
• $2500 for your Grand Opening

Hurry...only the first five accepted applicants between January 1st and July 31st 2010 will be eligible. After that, you'll have to pay whatever the increasingly busy Packard Avenue traffic will bear.

Build your own package of grants, loans and incentives

Apply for any or all of the following opportunities, created by the City of Cudahy to welcome start-up or relocating retailers to a new Packard Avenue location.

• $3000 design grant
  The City of Cudahy will provide up to $3000 to cover an architect's design cost for your storefront improvement project.
• $25,000 matching construction grant
  Complete the vision in your architectural rendering with a matching grant of up to $25,000 for storefront faηade construction or improvement.
• $10,000 lease buy-out
  Have a lease somewhere else? The City will offer up to $10,000 in lease buy-out cash!
• $500 moving costs
  Cover the costs of moving with $500 for boxes, moving vans, new business cards or any other move-related expense.
• Loans up to $25,000...at 2% interest
  Because business capital is scarce during these challenging economic times, the City will provide a 2% interest loan to qualifying businesses, up to a total of $25,000. Funding is for qualifying leasehold improvements that must stay in the building.
• $300 in business training
  To sharpen your business savvy, The City will provide up to $300 to attend training classes at South Shore Center for Economic Advancement.
• $2500 to celebrate your Grand Opening
  Let's celebrate your new space! When using a Cudahy business to cater your grand opening celebration, the City will provide up to $2500 toward the event.

PROGRAM DETAILS

This retail development program will be applied to the first five businesses who successfully complete an application between January 1st, 2010 and July 31st, 2010.

Qualifying businesses must meet the 2010 Cudahy Comprehensive Plan and the 2009 Cudahy Market Analysis and be approved by the Cudahy Community Development Authority (CDA).

I. Application Process
1. A prospective tenant who has already found space, spoken with a landlord, and drafted a lease applies to the program in partnership with the landlord. If the concept meets eligibility criteria, they move forward to the formal application.
2. A prospective tenant who has a business concept but has yet to identify a location, or spoken with a landlord, can approach the DED for assistance in finding a location. Once a lease has been drafted the tenant and landlord may apply together.
3. Once a lease has is finalized between the landlord and tenant the landlord officially applies for the Welcome Wagon on behalf of the tenant. The application asks for detail on the business concept, business plan, and financials. A copy of the negotiated lease must be provided and must show some proof of property owner contribution.
4. The completed application is sent to the CDA. The CDA may invite the landlord and tenant to make a presentation or deny them based on the merits of the application. If invited, both the landlord and tenant must present to the CDA.
5. Once approved a contract between the landlord and the CDA is signed laying out the terms of the incentive payments.

II. Eligible Types of Businesses
Businesses must show some public benefit to the downtown such as a provider of goods and services not available, new jobs, blight elimination, catalytic retail concept and meet the comprehensive plan and retail market analysis.

III. Ineligible Types of Businesses
Includes but not necessarily limited to: non-profit agencies, schools, day care centers, currency exchange including check cashing agencies, and some non-bank financial retail outlets, nightclubs, bars, liquor stores, convenience stores, gun shops, pawnshops, fast food restaurants, and passive real estate ownership and management. The committee may also determine on a case-by-case basis to exclude other business activities that they do not believe benefit the health, safety, and welfare of the community and/or do not meet the objectives of this fund.

IV. Lease must be at market rate with appropriate escalation clauses.

V. Payments are made upon receipt of a business license and occupancy.

To take advantage of this limited time opportunity, contact:

Lara Fritts
City of Cudahy
Director of Economic Development
414-769-2215
Cudahy, Wisconsin
cudahy4business.com frittsl@ci.cudahy.wi.us

City of Cudahy - 5050 S. Lake Drive - Cudahy, WI - 53110

414.769.2215