FOR IMMEDIATE RELEASE
Wednesday, July 13, 2022
NYC DEPARTMENT OF SMALL BUSINESS SERVICES AWARDS $3.8 MILLION IN MULTI-YEAR GRANTS TO SUPPORT NONPROFITS LEADING NEIGHBORHOOD RECOVERY
Avenue NYC and Neighborhood 360° Grants Support the Mayor's 'Blueprint for Economic Recovery' Initiative to Fortify Commercial Corridors Impacted by the Pandemic
NEW YORK – The NYC Department of Small Business Services (SBS) announced today it will award a total of $3.8 million in Avenue NYC and Neighborhood 360° grants to 24 community-based development organizations (CBDOs) working in low-to-moderate income neighborhoods.
The Avenue NYC grants, funded by the Federal Community Development Block Grant (CDBG) and American Recovery Plan Act (ARPA), are part of the City's continued focus on supporting small business and commercial district recovery.
"Our nonprofits play a vital role in ensuring the vitality of our small business sector, and these grants will help them better deliver on that mission," said New York City Mayor Eric Adams. "Strengthening our commercial corridors is a key component of our 'Renew, Rebuild, Reinvent' economic blueprint released earlier this year, and we will continue to work in close partnership with those on the ground to ensure an equitable recovery."
"Our city's commitment to an equitable economic recovery is steadfast. These funds will go directly to helping communities most in need and put into practice promises made in our Economic Blueprint," said Maria Torres-Springer, Deputy Mayor for Economic and Workforce Development. "The Avenue NYC and Neighborhood 360° grants will help local nonprofits revitalize commercial corridors and continue to champion our small businesses."
"As we all collaborate on spurring New York City's economic recovery, SBS is proud to support community-based development organizations throughout the five boroughs," said Kevin D. Kim, Commissioner of the Department of Small Business Services. "The Avenue NYC and Neighborhood 360° investments will bolster the ability of our nonprofit partners to assist local small businesses in neighborhoods that need the most help."
The Avenue NYC grant program includes:
The following five organizations will receive Avenue NYC grants to staff and develop commercial revitalization projects that address community-identified needs:
The following 10 organizations will receive a second and third year of funding to continue implementing their commercial revitalization projects that address community-identified needs, as outlined in completed CDNAs:
Additionally, the following five citywide CBDOs were awarded a combined $295,000 to provide technical assistance to SBS' nonprofit partners:
Neighborhood 360° grants enable CBDOs to develop and launch comprehensive commercial revitalization programs that address community-identified needs that are documented in CDNAs. Planned programs include merchant organizing, business support and retention, cleaning and beautification, district marketing, placemaking, public space activation, and other quality of life enhancements.
The following five organizations will receive new Neighborhood 360° grants to support commercial corridors and neighborhood businesses over the next 3 years:
The following eight CBDOs will receive a second and third year of funding via Neighborhood 360° grants to continue supporting commercial corridors and neighborhood businesses:
About Avenue NYC
SBS' Avenue NYC program is a competitive grant program that funds and builds the capacity of CBDOs, including business improvement districts (BIDs), local development corporations, merchants associations and other locally serving nonprofits operating in low- to moderate-income neighborhoods, to execute commercial revitalization projects. Avenue NYC is funded through the U.S. Department of Housing and Urban Development's Community Development Block Grant (CDBG) Program. More information on Avenue NYC can be found at nyc.gov/avenuenyc.
About Neighborhood 360°
SBS' Neighborhood 360° program identifies, develops, and launches commercial revitalization projects in partnership with local stakeholders. Through proactive planning and targeted investments, Neighborhood 360° supports projects that strengthen and revitalize the streets, small businesses, and community-based organizations that anchor New York City neighborhoods. For more information on Neighborhood 360°, please visit nyc.gov/neighborhood360.
About the NYC Department of Small Business Services (SBS)
SBS helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs. For more information on all SBS services, go to nyc.gov/sbs, call 311, and follow us on Facebook, Twitter, and Instagram.