DOWNTOWN KALAMAZOO'S RETAIL INCUBATION PROGRAM
The purpose of Downtown Kalamazoo Inc’s (DKI) Retail Incubator Program is to create vibrancy and wealth in downtown Kalamazoo by supporting new retail concepts. The program is available to retail businesses new to the TIF district (
see map).
The Retail Incubator is a program, not a space. Retailers may choose any location consistent with the DDA’s 2009 Comprehensive Plan, as long as the landlord agrees to the terms and conditions of the program.
The program is offered through Downtown Kalamazoo Incorporated’s
Business Recruitment and Retention Committee. DKI administers the program.
Businesses that become part of DKI’s Retail Incubator Program will receive the following benefits:
- 18 months of subsidized rent on the following schedule:
|
a. Month 1-6
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50% subsidy
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or
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$830/month maximum
|
|
b. Month 7-12
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33% subsidy
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or
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$560/month maximum
|
|
c. Month 13-18
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17% subsidy
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or
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$275/month maximum
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Training in the following disciplines:
a. Merchandise Management
b. Marketing
c. Human Resources
d. Financial Management
e. Customer Service
- Mentoring program with a successful downtown business
In exchange, the retailer agrees to the following conditions, which are required in an effort to ensure success:
- Retailer shall participate in the training and mentoring programs offered by the DDA.
- Retailer shall, at a minimum, be open for business 55 hours per week, 6 days per week.
- Retailer shall obtain the services of a bookkeeper, attorney and CPA acceptable to the DDA.
- Retailer shall meet once every quarter with mentor, who shall have access to information on sales, inventory and expenses one week prior to meeting.