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Posted on: November 1, 2021

MEDC program to help improve business exteriors

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MEDC program to improve look of business exteriors

 

MURPHY (November 1, 2021) Humorist Will Rogers may have had the City of Murphy’s REVAMP program in mind when he quipped, “You don’t get a second chance to make a good first impression.”  

REVAMP is the slightly quirky acronym for REVive and Advance Murphy’s Prosperity, designed to provide matching grants to local businesses that want to improve or enhance the exterior of their locale, thereby increasing their chances of making a good first impression.

Funded by the City and the Murphy Municipal Development District, the program was recently approved by the Murphy City Council and is administered by the Murphy Economic Development Corporation, according to MEDC Director Jared Mayfield.

“A limited number of matching grants of up to $10,000 are available for eligible businesses,” he said. “The program will evaluate proposals and, if approved, businesses can recoup 50 percent of their costs through a REVAMP grant.”

Covered qualified expenses include aesthetic improvements to buildings and structures and upgrades to signage, both categories are eligible for a 50 percent match up to $10,000. A third category, called other property improvements, also eligible for a 50 percent match, top out at $5,000.

“Our goal, of course, is to maximize retail traffic for Murphy businesses by assisting in improving the attractiveness of buildings and signs, in essence enhancing the visual impression that customers may have of a business,” he said. “We know that consumer choices are driven by a number of factors, including first impressions of a retailer’s location. REVAMP can help businesses improve their appeal by assisting in sprucing up their exterior.”

The City’s Economic Development Strategic Plan includes a goal of improving the overall look of Murphy businesses, and the REVAMP program is specifically designed to address that goal.

Grants can be made to property owners or their tenants, as long as the tenant has a two-year lease in place. Improvements must be visible from public streets to be eligible, and of course, the business must be within Murphy’s city limits.

In addition, the applicant and business must be current in all inspections and have no tax liens or be otherwise in arears to the City or other governmental entity. The program is not open to non-profits, government buildings, home-based business, or residences. All improvements must meet Murphy construction standards and codes.

Details of the REVAMP program, including all eligibility criteria, and an application are available at the Murphy EDC website, https://murphyedc.org/business/incentives/.

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