News - Thursday, October 29, 2009 13:32 - 0 Comments

For rent: vacant storefronts

By Brian L. Gray

In an effort to attract businesses into Mandan’s downtown area, the city will be renting currently vacant buildings to retailers for a reduced price.

The city has set aside $60,000 for this program, using money from the business development 2010 budget, which has been set aside for a retail incubator or other programs aimed at bringing in new businesses to Mandan.

Last Tuesday, the Mandan City Commission approved the passing of the program, called the Downtown Retail and Restaurant Rent Subsidization Program. The Mandan Growth Fund had previously approved this action on Oct. 13 before it went to the city commission for approval.

The proposal will use sales tax dollars to help new retailers rent for one year. Businesses that are eligible will receive assistance up to 50 percent of its monthly rent, or no more than $3 per square foot for retail and no more than $5 per square foot for restaurants. Continue…