Business Community Ownership Fund
The Business Community Ownership Fund gives Seattle business owners the tools to control their own futures.
The Business Community Ownership (BCO) Fund is a new investment model that addresses the rising cost of commercial rent in Seattle, which often affects neighborhoods and businesses owned by people of color, immigrants, women, and LGBTQ+ people. These communities continue to have less access to capital due to systemic inequities, racism, and related barriers.
The BCO Fund secures fixed, affordable rents for business owners. This financial stability keeps current neighborhood businesses in place and brings displaced business owners back to their communities.
Business owners who partner with the BCO Fund will receive the following benefits:
Shared ownership of commercial real estate.
Stable, affordable occupancy costs.
A community of support with other business owners.
Access to tools and resources to support their growth.
The Seattle Office of Economic Development and the National Development Council (NDC) are piloting the nation’s first Business Community Ownership Fund to preserve and strengthen the businesses that make our communities vibrant. The BCO Fund provides business owners the opportunity to invest in partnerships that will lead to long-term control and ownership of their own commercial spaces, thereby lowering tenant costs, increasing business incomes, and fostering economic stability.
The BCO Fund is in its pilot phase and is actively seeking project ideas from community developers, community partners, and small business owners.
Eligibility:
Project sponsors can be real estate developers and owners, neighborhood business district organizations, or other community sponsors. The BCO Fund is seeking projects that can begin construction within the next 12 months and in neighborhoods at high risk of displacement. The BCO Fund expects to support one to three projects annually. Project considerations include equity, impact, viability, and project readiness.
For additional information, visit the BCO Fund website or watch this BCO Fund Informational Video.
Due Date:
Projects can be submitted at any time and will be reviewed on a rolling basis. To see if partnering with the Business Community Ownership Fund is the right next step for your business, please submit the short Business Interest Form below.