Equity Focused Funding
All eligible business and/or commercial property owners may apply for funding up to 70% of the cost of eligible projects. The level of match provided will be determined based on length of ownership plus equity focused funding priorities described below. The maximum grant contribution by Alberta Main Street is $2,500 per project.
Equity Doesn’t Mean Equality
There is a common misconception that equity and equality mean the same thing and that they can be used interchangeable. Equity recognizes the barriers and obstacles that some of us face in reaching our goals, while equality treats everyone the same whether or not they face obstacles. We hope that our equity focused funding model is an opportunity to remove systemic barriers and provide access to resources so that everyone has the opportunity to reach their full potential.
CALCULATING YOUR MATCH
Add the appropriate length of ownership match to all applicable bonuses to calculate the level of match you could receive.
Length of Ownership (Base Match)
10% Match for new business/property owners (less than 3 years in the district)
15% Match for existing business/property owners (3-10 years in the district)
25% Match for long time business/property owners (over 10 years in the district)
PLUS Funding Priority Bonuses
+ 25% Priority populations bonus:
Minority, woman or low-income-owned business/properties
+ 15% Diverse contracting bonus:
Hire minority or women owned contractors for the project
+ 5% Sustainability bonus:
Project includes an environmentally sustainable component
Joe opened his business in 2010 and is seeking funds to paint the exterior of his business and install new exterior lighting. Joe is a person of color. The total project cost is $3500. Joe would be eligible for a 35% match or $1,225.
If Joe chose to use a minority or woman- owned contractor, use no-VOC paint and install energy efficient lighting, the total project cost may increase to $4000.
However Joe would now be eligible for a 60% match or $2400.
The maximum grant contribution by Alberta Main Street is $2,500 per project.