GREENSBORO, N.C. -- A new grant program from the city is offering thousands of dollars to redevelop South Elm St., south of downtown.
Tuesday night Greensboro City Council voted 9-0 to implement the South Elm Corridor Redevelopment Grant Program offers up to $25,000 per leasing space to clean up an existing building or to build a new one, in order to create jobs and new business in the area.
Other business owners on South Elm St. call the street "dead" and hope the grant will revitalize the area.
"It's recognizing that we care about the entire city, not just downtown. We recognize that Elm Street is our corridor, is our 'Main Street,' now we've got to invest in our 'Main Street' down to the interstate so people have that gateway," said Greensboro City Council member Zack Methany.
Greensboro City Council has enough money to fund two business plans right now, on a first come, first serve basis.
In order to qualify for the grant, an owner must have a concrete business plan and be prepared to invest at least twice the amount of the grant money and employ at least two people.
The grant can also be used towards development on Arlington and Butner Streets.