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Sunday, February 25, 2024

Applications Open for Neighborhood Prosperity Fund

The Office of the Deputy Mayor for Planning and Economic Development (DMPED) invites the submission of applications for the Fiscal Year 2018 Neighborhood Prosperity Fund (NPF). DMPED will also hold online Q&A sessions.

About the NPF

This program, now in its second round, will provide funding for non-residential components of mixed-use projects in underserved neighborhoods in the District.

DMPED will award up to $3 million dollars for catalyzing mixed-used, real estate or retail development projects in targeted census tracts where unemployment is 10% or greater. The grant provides necessary gap funding only for the commercial component of development projects.

The program aligns with Mayor Bowser’s economic strategy, which outlines steps the District will take to become the global model for inclusive prosperity and resilience, and showcase how diversity and innovation can drive equitable economic growth. The strategy is guided by two measurable goals, growing private sector GDP to $100 billion (by 20%) by the end of 2021, and reducing unemployment across Wards, races and educational attainment levels to below 10% across all segments by the end of 2021. DMPED welcomes submissions directly connected to these goals.

Available Funds

Up to $3 million is available for catalyzing mixed-use real estate project in targeted census tracts. Applications must be for a minimum of $250,000.

Funding availability is dependent on the total projects costs of the selected projects. DMPED will award one or more grants for an aggregate total of $3,000,000.

Awards will range between $250,000 and $750,000.

Grants are offered to qualified applicants located within a commercial boundary defined by a map available online here.

Submissions must be received by Friday, March 9th.

Q&A Sessions

Interested parties can join DMPED for an online Q&A session on the program next week at the following times. To join the sessions, go to this link at dmped.dc.gov Thursday, Feb 15th from 10 a.m. to 11 a.m.

For more information and to apply, follow this link on dmped.dc.gov.


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