Richfield Displaced Business Funding

The City of Richfield Economic Development Authority (EDA) recognizes the importance of local businesses in our community and has approved funding to help businesses that must relocate due to redevelopment. 

In December 2020, the EDA approved the creation of a Displaced Business Grant Program to provide assistance to businesses that must move as a result of redevelopment projects that receive funding from the City of Richfield, the Richfield Housing and Redevelopment Authority (HRA), or the Richfield EDA.

CLICK HERE FOR APPLICATION & INFORMATION


displaced businesses graphic - Copy


Program Eligibility Summary
(full guidelines available in application, above)
  • Business must be required to move due to the approval of a redevelopment project that is receiving a minimum of $100,000 in funding from the City of Richfield, the Richfield HRA, or the Richfield EDA.
  • Business must have been in place at least three months for partial funding; one year for full funding.
  • Business must relocate within Richfield.
  • Business must be open within six months of displacement from former location.
Available Funding
  • Up to $3,600 in grant funding per business for eligible expenses (documentation required):
    • Lease differential
    • Moving expenses
    • New signage