The Greater Waterbury Chamber of Commerce Foundation, in partnership with the City of Waterbury, is launching a new economic investment program aimed at helping central business district property owners lease their vacant storefronts.

The initiative, named the Central Business District Investment Program (CBDIP), uses $1.5 million of American Rescue Plan Act funds for a new matching grant program that is designed to help property owners within the district who were negatively affected by the COVID-19 pandemic.

Under the program, eligible property owners can receive up to $100,000 to be used for interior or exterior buildout costs for vacant ground floor-level retail space. Property owners with vacant storefronts are eligible for a grant of $50 per square foot, up to $100,000. Any grant awarded to a property owner must be matched at 100 percent by the owner of the property, the tenant, or a combination of both parties. Applications are now being accepted; to get started, click here.

The Greater Waterbury Chamber of Commerce Foundation is an affiliate of the Waterbury Regional Chamber. Waterbury Regional Chamber staff serve as GWCC Foundation staff and are directing and leading the program. An oversight and approval committee, compromised of City officials and Chamber Foundation officials are responsible for reviewing and awarding the grants.