Mayor approves $420K-plus of government funding to support Broadway business revitalization efforts; $100K MGC grant secured for revitalization efforts
The Revere Department of Planning & Community Development (DPCD) announced the first of many department initiatives that will be implemented in the Broadway Business District to stimulate economic growth and restore the city’s downtown business district. Since 2020, DPCD has been expanding Broadway revitalization initiatives, including the Broadway Resignalization Project, Restaurant Recovery Grant Program and the Storefront and Signage Improvement Program. Throughout the pandemic, small business grant programs were piloted and expanded by Mayor Brian Arrigo to aid struggling business owners. Now, thanks to funding sources like the Coronavirus Local Fiscal Recovery Fund (CLFRF)/ARPA, the City of Revere can invest more resources to expand these initiatives to benefit even more businesses and visitors to Revere’s downtown.
During 2021, DPCD worked with economic development planners at the Metropolitan Area Planning Council (MAPC) to complete a Local Rapid Recovery Plan (LRRP), a grant-funded process that conducted surveys, field analysis, market studies, and focus groups of business owners and other stakeholders in order to assess the impact of the pandemic on small businesses along Broadway. After months of research and analysis from these stakeholders, MAPC and DPCD completed a report outlining actionable strategies that can be used to promote economic recovery along the Broadway corridor.
Building on the momentum of earlier programs, Mayor Arrigo has approved $420,000 of CLFRF/ARPA funding to launch new or expanded initiatives supporting business revitalization efforts on Broadway. These investments support priority recommendations outlined in the findings of the LRRP) report. The funding will be used to:
- Provide tailored, one-on-one small business technical assistance with an experienced business consultant related to financial management, marketing & merchandising and expansion of business operations.
- Relaunch DPCD’s Storefront and Signage Improvement Program with increased funding and design services for business and property owners looking to invest in upgrading their exterior storefront or signage. Storefront and Signage Improvement Program information and current applications are now available athttps://www.revere.org/business-development/storefront-improvements. (Note: Applications for Broadway Small Business Technical Assistance and Storefront and Signage Improvements Loans will available to small business and or property owners of the Broadway corridor beginning on July 11, 2022.)
- Create a branding and wayfinding signage campaign for Broadway to enhance visibility, navigation and the visual identity of the business district.
Massachusetts Gaming Commission grant
DPCD has also secured a $100,000 Community Planning Grant from the Massachusetts Gaming Commission (MGC) to conduct a market analysis of Broadway and advance other key LRRP recommendations. The grant-funded analysis will explore cross-marketing potential with other local and regional attractions, inform programming to stimulate economic recovery of the corridor, and strategize to highlight the district’s unique history, recreational and special event venues and amenities to increase foot traffic and consumer spending.
Other DPCD Broadway initiatives that will be announced in June include the completion of the Broadway Signalization Project and the kickoff of the Public EV Charging Station Program. Visit the Department of Planning & Community Development’s webpage on revere.org to learn more about DPCD projects that include Broadway, Shirley Avenue, Squire Road and Suffolk Downs. This work, coupled with the city’s overall master plan, Next Stop Revere, will create the tools and policies necessary for the next generation of success in Revere.