Predevelopment incentives grant program
The MMDC is pleased to offer a grant program designed to attract new development to the Memphis Medical District and support the growth of existing businesses in the District.
Small developers and small businesses interested in investing in existing space or new construction in the Memphis Medical District may apply for up to $5,000 to offset predevelopment costs. Eligible activities include, but are not limited to:
- Conceptual Architectural Drawings
- Design Renderings
- Engineering Drawings
- Floor Plans
- Feasibility Study
- Planning Charrette
- Business Planning
Eligibility & Guidelines
- Applicants should be entrepreneurs, small developers or property owners seeking to build, improve and or activate real estate within the Memphis Medical District boundaries
- Projects considered for the grant must have a total investment budget of at least $10,000
- Applicants must provide at least one (1) design/project estimate that is generated or reviewed by a licensed professional
- Predevelopment work must be completed within three months of receiving grant
- Anyone interested in applying for the predevelopment grant should complete the interest form below as a first step UNLESS you have an MMDC contact person. If you have an MMDC contact, connect with them directly about applying.
- MMDC will follow up with those who submit interest forms within 1 week regarding a formal application and next steps
- Applications are given directly to candidates after interest forms are reviewed by MMDC staff
- $25 application fee for grant requests of <$2,500
- $50 application fee for grant requests of $2,500 - $5,000
- Must include at least one (1) design/project estimate generated or reviewed by a licensed professional
- Must address how the project will contribute to the vision of the Memphis Medical District
- Should include copy of the business plan & financial projections (unless the pre development grant request is for funds to generate those plans)
- Should include existing financial statements (if available)
- Should address source(s) of project financing
Applications are reviewed on a first-come first-served basis and are accepted until all program funds have been dispersed.
Grant Award process
When an award decision is made, MMDC will provide 50% of the grant amount upon presentation of an official invoice or cost estimate from the professional who will be used to do the predevelopment work. The remaining 50% of the grant amount will be disbursed once the grant funded work is completed. MMDC may request a showing of the work in progress at any time.
Questions Contact: Vonesha Mitchell at email@example.com.