•      Mission
•      Goals
•      Program Qualification Criteria
•      Components in the Program
•      Co-operative Lease Agreement
•      Business Plan Requirement
•      Mentoring Program
•      Small Business Tips

Mission:  To benefit the city by stabilizing the business environment, increase business and employment opportunities, while simultaneously animating the streets and sidewalks of OTR.

    Goals:

• To leverage the financial investment from the City of Cincinnati.

• To reduce the turnover of storefront occupants, thus increasing traffic, safety and return on investment.
• To support capital improvement in unused and underutilized storefronts for business occupation and expansion in OTR.
• To solicit businesses to compliment and strengthen the neighborhood as a viable place to live, work and play with a diverse collection of services, retailers, galleries and restaurants catering to the cultural district, thus improving the appeal of the neighborhood for residents and visitors.
• To provide an environment for individuals, entrepreneurs, investors and businesses to thrive, thus strengthening the economy by expanding the number of successful, stable businesses.

Program Qualification Criteria

  The Program

Businesses that are selected through the Over-the-Rhine Chamber of Commerce’s Business First Grant Program are awarded rental subsidy up to four months rent for the first year of a three-year lease, a matching grant up to $20,000 for tenant improvements and $300 towards the business’ exterior signage.

The incoming business must:

1. Be new to Over-the-Rhine (New businesses and businesses established in other locations are permitted.  It is preferred that established businesses are currently located outside of the City of Cincinnati boundaries, but it is essential that the business must not have been located in Over-the-Rhine within the last 12 months).

2. Occupy a storefront in the Main Street, Vine Street or Findlay Market business district.

3. Sign a three-year lease.

4. Agree to participate actively in the mentoring program and provide annual financial statements for the period of the lease.

5. Agree to be open to the public at least 50 hours per week.

6. Provide a thorough and well-organized business plan with a start-up budget and projected cash flow statements for the first three years of operation.  

7. Submit a complete application prior to opening, but no later than ninety (90) days of opening.

Ineligible businesses include churches, convenience stores, check-cashing services, temporary labor  services, social services,  offices, and businesses that are not compatible with adjacent residential  uses.  Home-based businesses are also ineligible.  

The Process

1. Building owners and/or landlords must agree to participate fully in the program.

2. The business owner and landlord negotiate the required build out, renovation and preparation required of the building and reflect that in a lump sum build out cost and the monthly rental amount.

3. The landlord schedules a meeting with Brian Tiffany, President of the OTR Chamber of Commerce, at 241-2690 to introduce the new business owner, and review the terms of the three-year lease agreement.

4. The tenant should provide a completed application in time to be reviewed by the Steering Committee at their next regularly scheduled meeting (which is generally held the second Wednesday of each month). If the business owner does not have a complete application or requires assistance with writing a Business Plan or creating cash flow projections, the OTRCC will make a referral for one-on-one business coaching.

The Perks

If the criteria are met and the business is accepted into the program:

1)     The Steering Committee will match the new business owner with an established business owner in OTR based on the needs of the business as well as a committee member. This match is based on the set of skills required and common interests.  The Steering Committee may also refer the new business to local small business resources to strengthen areas of the business that are of concern to the Committee.  A member of the Steering committee will meet with the business owner periodically to address any concerns the business owner may have.

2)     The matching funds for Tenant Improvements and Signage will be provided by the OTR Chamber of Commerce through a reimbursement process, in which receipts must be submitted to Brian Tiffany at the Chamber.

3)     OTR Chamber of Commerce will to pay up to one-month rent per quarter for the first year of operation to the landlord on behalf of the new business for a total of four months paid rent in the first year. These four months are NOT consecutive. NOTE: If the business owner is also the building owner, they are not eligible to receive rental assistance.

 Components in the Program

1.   OTR Chamber will provide a matching grant up to $20,000 for Tennant Improvements

2.   Business plan requirement

3.   Mentoring program

      4.   Rental Subsidy of four months rent for first year of a three year lease

Co-operative Lease Agreement

1.   Building owners and/or landlord must agree to participate fully in the program

2.   The tenant or owner of the incoming business locates a storefront .

3.   The tenant and business owner/landlord negotiate the required build out, renovation and preparation required of the building and reflect that cost in a lump sum build out cost and the monthly rental amount.

4.   The landlord schedules a meeting with the steering committee that is administered through the OTR Chamber of Commerce to introduce the new business owner, and review the terms of the three-year lease

5.   The tenant provides a business plan to this steering committee at this time.

6.   If the criteria are met, the OTRCC Steering Committee agrees to pay four months rent annually for the first year to the building owner/landlord on behalf of the new business/tenant. These four months are NOT consecutive; NOT the first four months of the co-op lease.

      7.  There is a $300 allowance for a sign for the storefront .

Business Plan Requirement

1.   The incoming tenant/new arts related business will be asked by the building owner/landlord to supply a copy of its current business plan before lease negotiations will be completed. 

2.   If the tenant does not have a business plan, but  history and references are good, the new business is invited to meet with the steering committee. The steering committee can recommend the lease be completed and the tenant work with available resources for a business plan as an initial step, prior to entering the mentoring program.

3.   Upon completion the business owner will join the mentoring program for the duration of the first three years of his/her lease.

Mentoring Program

1.   The new business meets with the steering committee to discuss concerns and obtain information.

2.   Based on the needs of the business owner, the steering committee matches this new business owner with an established business owner in OTR. This match is based on the set of skills required and common interests.

3.   The new business owner and the established business owner will define the parameters of a particular project for the benefit of the new business.  This project is submitted to the administrator of the program.

4.   The new and established business owners will meet regularly to work through and accomplish this project.  The administrator will assign a facilitator to help schedule the meetings and keep the project on track.

5.  The administrator monitors the progress of each match and each project.

This program is administered by OTR Chamber of Commerce with the support of a steering committee to oversee leases, programs and funding.

***Click on the arrow below to access the Business First Grant Application