Government grants are often used as a tool of social engineering for governments to encourage or accelerate some desired outcome. In the case of neighborhoods that are geared to undergo a renewal and renaissance, government grants are a way to encourage growth and rebuilding. The trick, though, can be to get the process started. Sometimes, business owners and new residents might feel a little hesitant to relocate to an area that’s still mostly dilapidated. But if they don’t, the new growth will never get started. For this reason, relocation grants for businesses and housing grants are often provided to those who will help get the process started.
The housing grants may be for repairs and renovations to existing structures, and they may be allocated to either prospective owner/occupants, or to developers and landlords who intend to make the property available to tenants. There can be property grants for existing residents too, to renovate their homes and improve security. In some cases, residents who are vulnerable get first priority, through grants for seniors or government grants for single mothers, for example.
Businesses are encouraged to relocate to the revitalization zone with grants and subsidies to be used for purposes such as hiring employees from the neighborhood, repurposing existing commercial space, agreeing to bring a needed service to the area, and more.
The way to find government grants of this type is to look at government websites in the renewal area. Typically, these programs will have names such as “Renewal Zones,” “Enterprise Zones,” “Revitalization Projects,” and other similar titles.
You not only will be rewarded for being an urban pioneer at the onset, but you also may benefit from getting in early in the next trendy area, before the prices start going up.