Richfield Displaced Business Funding
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.
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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.
- Up to $3,600 in grant funding per business for eligible expenses (documentation required):
- Lease differential
- Moving expenses
- New signage