For Businesses

Much of the work of Cambridge Main Street focuses on strategies for bringing people back to the downtown commercial district by selling its image and promise, improving the appearance of the downtown, helping existing businesses to expand and recruiting new ones, urging the conversion of unused space into productive property, and involving the entire community in the process. 

 

To support this effort, Main Street has been working with state and local governmental agencies to create programs that help business and property owners improve. Read on for information on the Cambridge Main Street Façade, Signage & Lighting Program, Rehabilitation Tax Credits, and the Neighborhood Businessworks Loan Program. 

 

If any of these programs interest you or you'd like more information, Send us an email or call 443.477.0843.

 

 

OPENING a NEW BUSINESS, INTERESTED in EXPANDING or RELOCATING your business to DOWNTOWN CAMBRIDGE?

Thinking about downtown Cambridge? Send us an email and tell us about yourself. What kind of business do you own or do you want to open? How many square feet do you need? Tell us anything else you think is important about your business.

 

 

CAMBRIDGE MAIN STREET FACADE, SIGNAGE & LIGHTING PROGRAM

Cambridge Main Street Board of Directors is offering downtown businesses, organizations, and property owners as much as half off the cost of building-improvement projects that beautify building exteriors, install new signage or awnings, and install new interior lighting that beautifies storefront windows and brightens the downtown streetscape.

 

“Downtown Cambridge has made a lot of progress recently, but it’s important that we continue to build on our momentum in this difficult economic atmosphere,” said Chad Malkus, president of the Main Street board. “This grant program gives our businesses and property owners the opportunity to make improvements at a steep discount. It’s a great deal for our city and our businesses.”

 

The grant funds that make the Main Street Façade, Signage, & Lighting Program possible are coming to the city through the Neighborhood Business Works program of the state Department of Housing and Community Development. Approximately $40,000 is expected to be available through the program, though the final number is still awaiting discussions between Main Street representatives and state officials.

 

Three types of projects are eligible for the newly revamped program:

 

• exterior improvements that enhance the appearance of buildings, with priority given to projects that restore a building’s historic appearance;

 

• new business signage, new awnings, and other additions or improvements that add to the exterior appeal of retail, service, office, and other non-residential buildings; and

 

• interior and exterior improvements that brighten and enhance the visual appeal of building exteriors, such as new lighting for storefront windows that will both enhance a building’s appearance after dark and brighten the downtown streetscape.

 

“The front lines of marketing for the businesses in our downtown are in our signage and storefront windows,” said Jim Duffy, Main Street’s executive director. “We’re hoping to receive a lot of applications, as this is a great opportunity for business owners to make their shops more visible and more inviting and for property owners to make empty storefronts more attractive and marketable.”

 

Both property owners and business tenants can apply for the program. Download the application checklist and the eligibility rules.

 

Applications will be submitted to Cambridge Main Street, which will then submit them to the state. All projects require the approval of the Maryland Historical Trust and the Codes Administration office in the Department of Housing and Community Development. Applicants are responsible for gaining all the required city and county approvals in the process of making improvements.

 

On projects with a total price tag of between $500 and $15,000, members of Cambridge Main Street can gain a 50 percent reimbursement from the state after the project is completed. Downtown businesses that are not members of Main Street are eligible for a 35 percent reimbursement after their projects are completed. Find out how to become a Main Street member.

 

Only projects within the state-designated Main Street district are eligible for the Main Street Façade, Signage & Lighting Program. That district extends roughly from High Street to Washington Street along Academy, Race/Poplar, and Pine streets.

Questions? Send us an email or call 443.477.0843.

  

REHABILITATION TAX CREDITS

Federal and State tax credits for up to 40% of restoration costs are available for approved historic restoration of commercial buildings.  For details, visit:

 

Maryland Historical Trust - Tax Credit Information

 

Federal Tax Incentives for Historical Preservation

 

 

 

NEIGHBORHOOD BUSINESSWORKS LOAN PROGRAM

NBW is the state’s premiere small business loan program providing competitively-priced, flexible financing for the costs associated with business startup and expansion. So far, three downtown Cambridge businesses have taken advantage of this loan program. For details, visit:
 

Neighborhood Businessworks Loan Program Information 

 

 

 

 

Ready to Learn More?

Money is still available for business or property owners seeking to restore their facades.  

Get started today!

 

Restoration in Progress