Detroit Program To Match New Businesses With Vacant Spaces...And Provide Cash

DETROIT (WWJ) - The city of Detroit has launched a new program that will pair vacant building owners with budding entrepreneurs — and provide some cold, hard cash to get things going.

Mayor Mike Duggan says "Motor City Match" is designed help those who want to start a new business as well as landlords who can't find the right tenants.

Every three months, the city will dole out $500,000 in HUD funds to up to ten winning projects.

"...A lot of our best talent has left the city of Detroit," Duggan said, at a news conference on Wednesday. "And I think that this is the kind of program that will keep the best of our young people here."

Duggan said it has to be viable business that will benefit local residents, and the owners and landlords will have to meet some qualifications.

"Remember, all these empty storefronts in Detroit at one time...they were servicing  people who lived in the neighborhoods. So what we're looking for is to recreate businesses with the next generation of entrepreneurs to support the people in the community," he said. "That's generally what we're thinking, but I doubt that liquor stores are gonna score real high in the program."

Not everyone will get the cash.

"It's gonna be a very competitive process run by professionals. And if you apply in the third quarter of 2015, and you don't make, you'll find out why you don't make it," Duggan said. "And if you need more finance experience, you need a different kind of partner, you can come back and apply in the first quarter of 2016."

Detroit resident Chris Allen is applying to open a new studio at 7 Mile Road and Livernois.

"It's called Metro Detroit Underground Art," Allen told WWJ's Sandra McNeill. "It's for, like, classes for kids play music...art, learn how to draw, paint, and dance, do video."

Get more details on the program and apply at MotorCityMatch.com.