Dedicated to Strengthening the Waterbury Economy We’re committed to making Waterbury a place where businesses can thrive. Through a partnership with the City of Waterbury, we have received funding to help property owners in the Central Business District. The Greater Waterbury Chamber of Commerce Foundation recognizes the challenges property owners have undergone due to the COVID-19 pandemic. Many were unable to secure tenants in vacant storefronts, which created a reduction in revenues, increased costs, and an escalation of deserted business corridors. Our goal is to assist these property owners and connect future business owners to opportunities for storefront space in Waterbury. What is the Central Business District Investment Program? The Greater Waterbury Chamber of Commerce Foundation is directing up to $1,500,000 of American Rescue Plan Act funds to property owners within the Central Business District in Waterbury who have been affected by the COVID-19 pandemic. An oversight and approval committee comprised of city and Chamber foundation officials will review and award the grants. These funds must be fully distributed by June 30, 2024. The program's intent is to provide property owners with funds to help incentivize small businesses to lease their vacant spaces and provide a much-needed economic boost in the Central Business District. View the Central Business District Boundaries here.
Program Guidelines
Grants awarded can be used for buildout costs of establishing new businesses in vacant ground floor retail spaces with a signed lease dated August 1, 2022 or later
Renewed leases dated August 1, 2022 or later, for current tenants may also apply
Property owners with vacant storefronts may be 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% by the property owner and/or tenant, or combination of both
Property owners with multiple vacant storefronts may apply for a grant for each empty property
Three competitive quotes must be provided for contracted work
Program Eligibility Property owner must:
Be in good standing with the City of Waterbury
Own vacant ground floor space within the Central Business District
Prove they were negatively affected by the pandemic
Provide official documentation such as IRS W-9 form, Annual Statement of Financial Interests, etc.
Prove matching funds are available at time of application
The primary objective will be for retail or service businesses that will enhance the downtown area for residents to live, work and recreate.
Minority and women owned businesses such as restaurants, café, food and beverage shops, professional services, gift shops, clothing, footwear, and jewelry stores are encouraged.
Vacant properties adjacent to other vacant properties
Waterbury-based small businesses that want to relocate to the Central Business District or within city limits
May be funded up to $10,000 for relocation expenses
Vacant Storefront Property Owner Those who own vacant storefront properties can use the link below to fill out a pre-application
