SEED Rental Assistance Grant 1.0 & 2.0 Application Process Overview
STEP 1: Apply. Visit the ElevateImpactFunds.com website to review and complete the application within 90 days of the opening of the grant application period.
As a part of the application process, SEED grant applicants must provide the following information:
- DCR Licensing Portal / Accela number
- Fully executed commercial lease or binding Letter of Intent (LOI). A binding LOI generally includes material terms and is fully executed by both the Applicant and the prospective landlord. Material terms may include the term of the lease, rental price, and provisions regarding any construction or improvements. DCR recommends you speak with an attorney if you have questions about LOIs, commercial lease agreements, negotiating a lease or LOI, or whether an LOI is binding.
- Budget showing what the grant funds will be used for:
- If the grant funds will be used for rent, please show how many months will be covered with the grant funding; and
- If the grant funds are used for build-out or construction costs, please itemize all purchases. For each line item, upload estimates and specify any labor costs.
4. Required Documentation:
- Government ID
- Bank statement with the name of the account that you would like to receive the grant funds. Both verified Social Equity Individuals and businesses that are 33 1/3% or more owned by verified Social Equity Individuals may apply.
- W-9 with the name of the grant recipient and the address to where legal notices should be mailed. Please note that the name on the grant agreement will be the name listed on the W-9. This can be either an individual or a business name. This name must match the name on the bank statement.
- Education Course Completion Certificate
- Estimates / Unpaid Invoices for Build-out or Construction Costs listed on the Budget
STEP 2: Application Review: A SEED Rental Assistance Grant application will be reviewed by the Elevate Impact LA team to ensure that the SEIA has provided the required documents.
- If the SEED Rental Assistance Grant application is complete, the grant recipient will receive an email saying that the application has been sent to the SEED Rental Assistance Grant Committee for review.
- If the grant application is not complete, the grant applicant will receive an email explaining which document requirements are missing and/or insufficient. The grant applicant will complete and resubmit the application within 10 calendar days of the email notice listing the missing/insufficient documents.
STEP 3: Grant Approval: A completed grant application will be submitted to the Elevate Impact Grant Committee for review. Approval is contingent upon successfully completing the requirements. If the grant application is approved, the applicant will become an “Approved Applicant” and will be notified via email regarding their approval status.
STEP 4: Virtual Signing: Once approved, the grant will be closed as follows:
In order to receive a grant disbursement under the SEED Rental Assistance Grant Program, Approved Applicants must first sign a grant agreement with the City of Los Angeles. The grant agreement will be prepared for the grantee to sign electronically, attaching required documents as outlined in the agreement. Elevate Impact LA will meet with the Approved Applicant virtually to review, complete and sign the closing documents. Completed grant documents will then be sent to the City of Los Angeles for signature and payment processing.
STEP 5: Grant Disbursement: Approved Applicants will be required to set up a financial services account at ElevateImpactFunds.com to receive funds. If Approved Applicants are unable to establish a bank account, please contact stacey@elevateimpactfunds.com. Once you become an Approved Applicant, create an account, and provide the account information to Elevate Impact LA. Elevate will coordinate with the corresponding banking partners to ensure the direct transfer of funds. Funds will be distributed to Approved Applicants via ACH transfer to individual bank accounts or business bank accounts.
Step 6: Post Grant Disbursement: Grant recipients will be required to provide receipts to ElevateImpactLA detailing actual grant expenditures.