The Washington, DC Deputy Mayor for Planning and Economic Development (DMPED) invites the submission of proposals for the Neighborhood Prosperity Fund (NPF). NPF incentivizes community development, economic growth and job creation by leveraging local funds to provide financing for projects that attract private investment to distressed communities. Grant funds support architectural and engineering costs, construction costs, tenant improvements, historical preservation building improvements to maintain compliance with applicable laws, development analysis, rent abatement and/or tenant concessions for up to three years to stabilize market rent.
DMPED will award up to $4 million total in grants to be disbursed to successful applicants of the FY22 Neighborhood Prosperity Fund. Minimum request per application is $250,000.00. Eligible applicants include 501(c)(3) nonprofit corporations, joint ventures, partnerships, cooperatives and limited liability types of companies, corporations and for-profit and nonprofit developers.
Eligible Projects are defined as projects that combine two or more of the following types of development: mixed-used (commercial portion only), retail, food services office or special purpose developments limited to urgent care centers and other health or medical facilities. Projects must be within the statutory boundaries of the Neighborhood Prosperity Fund.
Prospective applicants can verify their location eligibility via the interactive mapping tool found here. Projects located outside of a qualifying Neighborhood Prosperity Fund statutory boundary will not be considered. The application closes on March 25 at 4 p.m. ET.
