Business Initiative Fund

The purpose of this program is to promote collaborative activities and/or increase the capacity of the businesses participating in the proposed initiative.

These activities may include:

  • Capacity Building (i.e. Winterizing patios, small performance platforms to attract performers/visitors).
  • Promotions (i.e. Grand opening, sidewalk sale, or customer appreciation)
  • Events (i.e. Light Up the Night, Lacombe Days)
  • Beautification efforts (i.e. planters, Christmas lights)

Program Goals:

  • Promote the viability of retail and commercial businesses
  • Contribute to the quality of life of residents, workers, and visitors to the City of Lacombe
  • Make the city shopping streets more inviting and interesting places to work and shop

Procedure:

Applicants will be required to submit a completed Application Form online, via email to guy@echolacombe.ca, or in person at Lacombe City Hall, 5432-56th Ave Lacombe AB, T4L 1E9.

Guidelines:

  • An amount of $2,500.00 will be allotted to the Business Initiative Fund on an annual basis.
  • The Grant will provide a matching amount of up to $1,000.00 for eligible businesses to support an initiative that meets the criteria of this Grant.
  • A matching contribution by the applying businesses must be financial in nature.
  • Applications will be based on a first-come-first-served basis. In the event that the Echo Lacombe receives a number of applications at the same time, the Evaluation Criteria shall be used to determine funding distribution.
  • Business collaboration is encouraged. Greater business participation aligns with the program goals and therefore advances the opportunity for application approval.
  • I understand my submission of an application does not constitute a guarantee for funding under the Business Initiative Fund Program.

Approval Process:

To be considered eligible an Applicant must:

  1. Contain a list of participating businesses with valid business licenses;
  2. Include commitments to matching financial contribution from the Applicant;
  3. Include provisions for the completion of the project within three (3) months of the date of grant approval;
  4. The project must be for one of the following:
  • A promotional activity
  • An event (could be stand-alone or part of a larger community-wide festival)
  • A beautification project that emphasizes curb appeal
  • Have all the required application information completed.

When reviewing an Application Echo Lacombe will give due regard to the Evaluation Criteria.

Rejected Applications:

An Applicant, who has submitted an application that has been rejected may:

Submit an application at any time:

  • For a new project; or
  • If the eligibility status of the Applicant has changed to make them eligible for the grant.

Submit an application for the same project:

  • After the lapse of six (6) months from the first submission; or
  • If the project was rejected because of a lack of funding, as soon as new funding is made available.

Distribution of Grant:

Grant funds will be forwarded to the successful applicant thirty (30) days from the receipt of documentation verifying:

  • That the expenditures have been made for the approved project;
  • That the approved project has been completed in accordance with the approved application form;
  • All conditions of the Grant as outlined in the Grant Agreement have been met.