The 2009-2010 Commercial Office Tenant Improvement Program for Office Employee Recruitment and Retention in Downtown Memphis is designed to help stabilize and strengthen the Downtown office market by increasing or retaining the number of full-time employees/equivalents within the area. This will be done by offering eligible tenants a grant that can be applied towards tenant improvement costs.
Basic Eligibility Requirements
• The property or lease space must be located within the Central Business Improvement
District (hereinafter “CBID”) ;
• The Tenant must be classified as and determined as being an office tenant with an office
use and with employees who work within the leased premises or within the CBID;
• The Tenant must employ at least three (3) full-time employees/equivalents (FTEs) at the
eligible location;
• The Tenant must apply prior to entering into a lease;
• The Tenant’s current lease (if applicable) must be due to expire within 12 months of the
application date; and,
• The Tenant must sign a lease that includes a term of at least five (5) years.
• The property or lease space must be located within the Central Business Improvement
District (hereinafter “CBID”) ;
• The Tenant must be classified as and determined as being an office tenant with an office
use and with employees who work within the leased premises or within the CBID;
• The Tenant must employ at least three (3) full-time employees/equivalents (FTEs) at the
eligible location;
• The Tenant must apply prior to entering into a lease;
• The Tenant’s current lease (if applicable) must be due to expire within 12 months of the
application date; and,
• The Tenant must sign a lease that includes a term of at least five (5) years.
Retail tenants are ineligible for the Program.
Grant Disbursement Requirements
The grant amount disbursed shall be the lesser of a) the base grant (including any eligible multiplier);
or, b) the actual costs of the TIS.
Approved grants will be disbursed when the following items are provided:
• A lease signed by Tenant and landlord, with a term of at least five (5) years;
• Contractor cost certification list for TIS;
• Certificate of Occupancy (if applicable);
• Verification of number of full-time employees/equivalents (FTEs);
Downtown Office Occupancy Incentive Program
• Photographs of the completed TIS;
• The office is fully occupied and Tenant is conducting its business in the space; and,
• Documentation of compliance with the Equal Business Opportunity Program.
The grant amount disbursed shall be the lesser of a) the base grant (including any eligible multiplier);
or, b) the actual costs of the TIS.
Approved grants will be disbursed when the following items are provided:
• A lease signed by Tenant and landlord, with a term of at least five (5) years;
• Contractor cost certification list for TIS;
• Certificate of Occupancy (if applicable);
• Verification of number of full-time employees/equivalents (FTEs);
Downtown Office Occupancy Incentive Program
• Photographs of the completed TIS;
• The office is fully occupied and Tenant is conducting its business in the space; and,
• Documentation of compliance with the Equal Business Opportunity Program.
Once a grant is approved, the applicant has three (3) months after the lease is signed to meet
the grant disbursement requirements. If the applicant does not meet the grant disbursement
requirements within three (3) months of the date on which the lease is signed, the reserved
funds will be returned to the grant pool, and the application fee will be deemed as nonrefundable
and shall be forfeited.
the grant disbursement requirements. If the applicant does not meet the grant disbursement
requirements within three (3) months of the date on which the lease is signed, the reserved
funds will be returned to the grant pool, and the application fee will be deemed as nonrefundable
and shall be forfeited.
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