by Anthony Cadle
Main Street Manager
The City of Dayton, Kentucky recently launched the Commercial Community Advantage Program better known as CCAP. CCAP is a four-award-funds package that targets the biggest issues within the community’s downtown business districts. Currently the city has earmarked over $500,000.00 to support the four year program. Although this program is not expected to use its full budget, City officials hope that the majority of it will be utilized to reverse the negative trends within downtown Dayton.
The significance of this program isn’t the size of the investment, but its ability to evolve and adapt given usage, demand and effectiveness. The four awards within the package are Rental Abatement, Uniform Signage, Business Occupancy, and Structural Improvement. All programs are part of a three year contract that require recipients report annual data and maintain communication with the Main Street Manager.
The four awards within the package are Rental Abatement, Uniform Signage, Business Occupancy, and Structural Improvement. All programs are part of a three year contract that require recipients report annual data and maintain communication with the Main Street Manager.
The Rental Abatement program is to assist entrepreneurs in the large task of expanding or starting their business. This award will be a quarterly reimbursement to the business over a three year period and hopes to offset the expected overhead costs that cripple many businesses.
The Uniform Signage program attempts to encourage new and current businesses to better identify themselves while simultaneously adding visualizations and create an identity for the Main Street as a whole.
The Business Occupancy program aims to create an overlapping of business owners and property owners. This program will be awarded to stabilizing or expanding businesses that are in the market to both buy and occupy a commercial property.
Finally, the Structural Improvement program is targeted towards property owners to assist them in improving some of the major issues that come with repairing older structures. A large portion of the vacancies and unsellable properties is due in part by crumbling infrastructure within the said properties. This program is expected to motivate and assist owners to remedy these issues and create a dynamic property market within the commercial district.
Councilmen and Economic Development Committee Chairmen, Ben Baker supports the program by adding, “Initiatives such as this one, and the willingness of the city to pursue them, will give Dayton a much better tool set to bring more businesses to the Central Business District and retain them. The revitalization of our Main Street is extremely important to continuing to increase the quality of life in Dayton.”
Both entrepreneurs and property owners who are interested in finding out more information about CCAP should call Anthony Cadle at 859-491-1600 extension 229 or email him at email@example.com.