The LMDC already has provided more than $1 million to small businesses south of Canal Street

The Lower Manhattan Development Corporation (LMDC) announced that it will expand its “Small Firm Assistance Program” to include small businesses that are within a single-square-block radius of a street or sidewalk closure. The expansion more the doubles the number of eligible blocks from approximately 60 to more than 200 blocks. Additionally, the amount each business can receive per square foot has been increased from $2.50 to $5.00.

For further details on eligibility and to download an application please visit www.renewnyc.com.

Eligible businesses must be at street level and have fewer than 50 employees. The Alliance for Downtown New York, which manages the Downtown-Lower Manhattan Business Improvement District (BID), also provides marketing and technical support local companies to help support their businesses.

Through the $5 million grant program, which began in 2008, the LMDC already has provided more than $1 million to small businesses south of Canal Street. It was initially open only to Lower Manhattan companies adversely affected by public construction on their streets. It is one of the LMDC’s key initiatives to help revitalize Lower Manhattan. The LMDC also has allocated hundreds of millions of dollars for community enhancements, parks, and cultural amenities through various projects and programs.

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