As part of Manassas City Council’s strategic initiatives to enhance economic opportunity and a sense of place, two new incentive programs have been created as part of the FY2017 Budget, according to Brendon Shaw of the Prince William Chamber of Commerce.
The new programs allow the City to support its existing business community and to show the appreciation held for their role in making Manassas special.
With the adoption of the budget, Manassas City Council approved expanding its incentives to include two pilot incentive programs; a Façade Improvement Grant Program and a Landscape Improvement Grant Program.
These incentives will assist with exterior renovations and landscaping of existing commercial or industrial properties and require no expansion. The new initiatives are designed to encourage business owners to reinvest in properties throughout the City and serve as a redevelopment tool intended to bring new life to older structures.
Each pilot program has been allocated $50,000 and property owners must agree to invest $2 for every $1 the City invests.
According to Shaw, “Attractive building facades and landscapes can have a significant impact on the value and marketability of surrounding areas, and drive up foot traffic as a result.”
In addition to achieving the City’s goals of supporting local businesses and improving the appearance of the community, similar programs in other localities have resulted in increased property values and spurred adjacent property owners to make similar investments regardless of whether or not grant funding is involved, according to the news release.
Increased property values and successful businesses provide a return on investment to the City through enhanced tax revenues.
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<a href="http://www.bullrunnow.com/news/article/manassas_adds_facade_landscape_improvement_grant_programs_for_city_business">Manassas adds facade, landscape improvement grant programs for city businesses</a>