The Community Redevelopment Agency of the City of Los Angeles (CRA/LA) has established the Hollywood Commercial Property Enhancement Program (CPEP) in an effort to spur economic development, improve existing businesses and attract new retailers to the historic commercial core of Hollywood. Through the upgrade and beautification of buildings, CPEP is aligned with CRA/LA’s strategic objective to Strengthen the Los Angeles Economy and to specifically address the goal of Supporting and Attracting Businesses.
The purpose of CPEP is to assist business and property owners to beautify storefronts and upgrade commercial spaces. Exterior improvements to properties in this commercial core will not only potentially draw more patrons to the district and revitalize the area, but can also serve as a catalyst to attract new retailer interest. Interior improvements will help to meet the needs of current businesses as well as prepare retail commercial spaces for new and diverse uses.
Through CPEP, CRA/LA will be joining forces with the Hollywood Entertainment District Business Improvement District’s “Hollywood Facelift” program by making funding available to eligible businesses and property owners that will enable them to make exterior and interior improvements.
What is CPEP?
CPEP offers businesses and property owners loans to improve the appearance of businesses and properties in the designated Target Area in the Hollywood commercial core. The conditional loans do not require cash repayments and are deemed repaid over a ten-year period if the recipient simply maintains the property and meets the conditions of the contract.
CPEP Program Components
There are two components to the program: Exterior only Component (EOC) and Exterior and Interior Component (EIC). The conditional loan program offers qualified applicants between $37,500 and up to $200,000 to make exterior or interior improvements to businesses and buildings. Depending on the size of the storefront, applicants may qualify for certain minimum funding amounts without a matching requirement. Applicants may request additional funds totaling $200,000 with a required dollar-for-dollar match.
Who is eligible?
Property owners and tenants of commercial property within the Target Area (see map). Applicants will be evaluated based on level of need, location, projects that enhance pedestrian activity, and entrepreneurial business activity.
What can the CPEP funds be used for?
Exterior (Partial List)
Doors, windows, awnings and canopies
Exterior treatments or wall finished
Replace or remove security doors and grills
Improve or replace signs
Paint
Lanscaping
Addressing and correcting code violations
Exterior improvements to a Historic Resource must conform to Secretary of Interior Standards for Rehabilitation of Historic Structures.
Interior (Partial list)
Installation of permanent fixtures, wall separations, decorative masonry walls, and flooring.
New windows and doors
Replacement of fixtures and components
Site preparation for new construction
Upgrade facility to accomodate a variety of new retail/ commercial uses and floor plans
Improvements related to electrical, HVAC, plumbing, life safety, accessibility, bathrooms and energy efficiency.
Who designs the improvements?For the EOC, the CRA/LA will hire an architect and contractor to complete the improvements. With the EIC, participants may elect to hire their own contractors, and the CRA/LA will reimburse the participant for eligible costs. All design work and plans must be jointly approved by the CRA/LA and the participant before work begins.
Bonus Resources: DWP Exterior Lighting Funds
Applicants may be eligible for up to an additional $15,000 through the City of Los Angeles Department of Water and Power (DWP) to fund energy efficient exterior lighting and fixtures. New energy efficient lighting not only saves energy, but also enhances security in the area and creates a more pedestrian-friendly environment.
Funding Availability
Initial funding consideration will be made through a call for applications. Thereafter, should there be any remaining funds, applications will be accepted on an open window basis until all allocated money has been committed.
Program Application & Guidelines
To obtain detailed program guidelines and an application click here CPEP Application, CPEP Guidelines and Targeted Area Map call or email the CRA/LA Hollywood Regional Office.
CRA/LA Hollywood Regional Office
6255 W Sunset Blvd Suite 2206
Los Angeles, CA 90028
Tel: 323- 960-2660
Fax: 323-461-1487
Email: hollywoodinfo@cra.lacity.org
Commercial Property Enhancement Program (CPEP)