The goal of the program is to open ten new retail locations within the Upside Allentown area by the end of this summer.<\/p>\n
In a \u201cShark Tank-like\u201d competition, prospective retailers will compete to win access to readily available space, up to $15,000 in forgivable loans and a network of professional support at discounted rates valued at approximately $5,000, including a certain number of free hours for each of the professional services.\u00a0 Qualified applicants must create at least two full time jobs that meet low-to-moderate income requirements.\u00a0 The funding comes from the city of Allentown\u2019s federal Community Development Block Grant (CDBG) allocation.<\/p>\n
\u201cThere has been tremendous growth downtown,\u201d said Santo Napoli, the owner of assembly88, The Archive and New York Urban, all in the downtown.\u00a0 \u201cThere are thousands of employees and arena patrons to create enormous foot traffic.\u00a0 This program has been created to help those entrepreneurs who want to take advantage of a fantastic opportunity.\u201d<\/p>\n
According to Allentown Mayor Ed Pawlowski, \u201cthe Retail Mosaic is a great use of the city\u2019s CDBG funds.\u00a0 The money can be used to acquire new or used machinery and equipment directly related to the business process.\u00a0 The owner must create two full time equivalent jobs within three years which can be held by city residents who meet the low\/moderate income guidelines.\u201d<\/p>\n
\u201cThe Retail Mosaic is a collaborative effort on the part of a number of committed partners,\u201d said Greater Lehigh Valley Chamber of Commerce Senior VP, Allentown Initiatives<\/strong> Miriam Huertas.\u00a0 \u201cThis is a chance to reactivate underutilized properties and increase opportuniti<\/span>es for area residents to find employment.\u201d<\/p>\n Interested persons may apply on-line at http:\/\/upsideallentown.com\/retail-mosaic\/<\/a>. Applicants will be pre-screened based on a commitment to create jobs and a solid business plan.\u00a0 A maximum of up to 20 applicants will be invited in for an elevator pitch, \u201cShark Tank-like\u201d interview.\u00a0 The final awards will be given to the top ten prospects based on fit, need for services, credit worthiness and uniqueness to the downtown.<\/p>\n Led by the Hamilton District Main Street program, awardees will have access to the Retail Mosaic\u2019s \u201cincubator without walls.\u201d A committee of competent and devoted professionals, the \u201cecosystem,\u201d will provide pro-bono and reduced rate support in areas that are essential for business creation, launch and development.<\/p>\n The city has compiled an inventory of clustered retail space within the Upside Allentown footprint that includes the 700 to 1000 blocks of Hamilton, Linden and Walnut streets and Seventh, Eighth, Ninth and 10th<\/sup> streets.\u00a0 It includes areas commonly referred to as Jordan Heights, Old Fairgrounds, Seventh Street District, Old Allentown Historic District, Allentown Promise Neighborhood and the Hamilton District.\u00a0 The space is tenant ready within the parameters of 650-2000 square feet at market rate costs of $8.00 to $20.00 per square foot.<\/p>\n Digital Feast at 840 Hamilton Street has created the website and a 2:30 contained video to promote the \u201cRetail Mosaic\u201d program.\u00a0 The site contains the names, companies and services that make-up the \u201cecosystem\u201d that is available to assist the entrepreneurs.\u00a0 Information will be shared with up to 700,000 people on Facebook and more than 6500 members on Upside Allentown\u2019s distribution list.<\/p>\n Billboard space has been generously donated by Adams Outdoor Advertising and Sterner Outdoor Advertising to help promote the competition.<\/p>\n Allentown Business Development Manager Bernadette DeBias said, \u201cIn my entire professional career covering more than 20 years in two states, I have never witnessed a group of business and community leaders give so generously of their time and talent. Organizations that weren\u2019t even directly involved lent their expertise.\u00a0 The development of this program has resulted in not only a great product, but a selfless cohesion of people and businesses, because they believe in it, and Allentown.\u201d<\/p>\n Interested persons with questions on the application process can email retailmosaic@allentownpa.gov.<\/p>\n <\/p>\n <\/p>\n Information provided by: <\/p>\n <\/p>\n
\nMike Moore
\nCommunications Manager
\nMayor’s Office
\n435 Hamilton Street
\nAllentown, PA 18101
\nMike.Moore@allentownpa.gov
\nhttp:\/\/www.AllentownPA.gov
\n <\/p>\n
\n
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