At its board meeting on February 18, 2025, the Brays Oaks Management District (BOMD) approved a $100,000 budget for the newly established Business Improvement Grant (BIG) program for Fiscal Year 2025. This exciting new initiative represents a significant investment in the district’s commercial landscape, providing business owners with financial support to enhance their properties and contribute to the overall beautification of the area.

What This Means for Brays Oaks

For business owners, the launch of this new program means they now have an opportunity to improve their storefronts, parking lots, and overall property aesthetics with the district’s financial backing. This initiative provides a boost in confidence for businesses looking to modernize and improve curb appeal, knowing that they have access to reimbursement-based support.

For residents, this program marks the beginning of visible enhancements throughout Brays Oaks, creating a more attractive, safer, and vibrant community. Well-maintained businesses contribute to an improved quality of life, helping to foster a sense of pride and economic vitality in the area.

The Compounding Impact of Business Enhancements

When businesses invest in their properties, the effects ripple throughout the district. Upgraded storefronts and commercial properties enhance the overall market value of the area. Enhanced lighting, clean exteriors, and well-maintained parking lots contribute to a safer environment for both customers and residents. Attractive business corridors invite more foot traffic, drawing in new customers and potential investors. Visible improvements encourage neighboring businesses to make similar upgrades, fostering a district-wide transformation.

Business Owners and Leasing Tenants Take Note!

A unique aspect of the new BIG program is that businesses leasing their properties can apply for funding with approval from their landlords. This means tenants can not only advocate for enhancements such as new awnings, fresh signage, improved lighting, and other upgrades that enhance the storefront’s appeal, but they can also make the investment themselves and be reimbursed through the district’s grant program. Tenants must receive landlord permission before making improvements and applying for the grant.

A Great Return on Investment for Assessment Payers

This new program is a direct benefit to the commercial property owners who fund the district through assessments. By reinvesting these funds back into business improvements, property owners see a tangible return on investment in the form of increased property values, higher tenant retention rates, and a more attractive commercial environment that drives economic growth. The Business Improvement Grant is an example of how assessment dollars are utilized to create long-term benefits for both businesses and the broader community.

How to Apply

Applying for the Business Improvement Grant is simple. Follow these steps to get started:

  1. Meet the Eligibility Criteria: Ensure you qualify for the grant. Eligible applicants include commercial property owners or authorized tenants with property owner consent.
  2. Identify Eligible Improvements: Improvements must fall within the program’s scope, such as exterior painting, signage, parking lot resurfacing, facade renovations, landscaping, lighting upgrades, and other enhancements that improve curb appeal.
  3. Prepare Your Application: Gather necessary documentation, including a completed application form, contractor estimates, and photographs of the proposed improvements.
  4. Submit Your Application: Send your application along with all required materials to the Brays Oaks Management District for review. Applications can be sent to the Director of Economic Development, [email protected].
  5. Approval Process: Applications are reviewed by the Economic Development Committee before final approval from the board.
  6. Project Implementation: Once approved, businesses must begin improvements within 60 days and completed within six months.
  7. Request Reimbursement: After project completion, submit invoices, receipts, and “after” photos for verification to receive reimbursement of up to 50% of eligible project costs, within the program’s cap.

Investing in the Future of Brays Oaks

With the launch of this new funding opportunity, the Brays Oaks Management District reinforces its commitment to creating a thriving business environment. By supporting local businesses in their efforts to improve and modernize their properties, the district is ensuring a more attractive, safe, and economically resilient community.

Business owners are encouraged to take advantage of this opportunity early, as funds are distributed on a first-come, first-served basis. Let’s work together to make Brays Oaks a better place to live, work, and do business!