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Office of the Deputy Mayor for Planning and Economic Development
 

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Neighborhood Prosperity Fund Launches Today

Monday, May 15, 2017
Pilot grant program now accepting applications, will spur economic development in underserved neighborhoods

CONTACT: Joaquin McPeek (202) 202-727-6698; [email protected]

 

(WASHINGTON, D.C.) – Deputy Mayor for Planning and Economic Development (DMPED) Brian T. Kenner today announced proposals are now being accepted for the District’s new Neighborhood Prosperity Fund (NPF). This pilot program will provide funding for non-residential components of mixed-use projects in underserved neighborhoods in the District.


“This fund is a tremendous boost as we look to fulfill Mayor Bowser’s vision of DC being a model for inclusive prosperity,” said Deputy Mayor Brian Kenner. “What I’m most excited about is knowing that these key investments will support jobs, services, and amenities to residents in our underserved neighborhoods.”


DMPED will award up to $3 million dollars for catalyzing mixed-used, real estate or retail development projects in targeted census tracts where unemployment is 10% or greater. The grant provides necessary gap funding only for the commercial component of development projects.


Funding availability is dependent on the total projected costs of the selected project, with a minimum application request of $500,000.


The grant aligns with Mayor Bowser’s recently released economic strategy, which outlines steps the District will take to become the global model for inclusive prosperity and resilience, and showcase how diversity and innovation can drive equitable economic growth. The strategy is guided by two measurable goals, growing private sector GDP to $100 billion (by 20%) by the end of 2021, and reducing unemployment across Wards, races and educational attainment levels tobelow 10% across all segments by the end of 2021.


DMPED will hold two live chat sessions to answer questions about the Neighborhood Prosperity Fund tomorrow, Tuesday, May 16 and
Thursday May 18 from 1 p.m. – 2 p.m. Information will be listed at:
dmped.dc.gov.


For more information about how to apply, visit this link. Application deadline: June 2, 2017, at noon.