Preliminary applications are reviewed by Prosper Portland staff on a rolling, first-come first-serve basis until all spaces are filled, with evaluation based on the following criteria.
Priority Population business ownership. Prosper Portland is committed to supporting businesses led by owners from underrepresented populations, particularly women, people of color, and those from low-income neighborhoods. Priority will be given to local businesses (based in the Portland region) and businesses that align with Prosper Portland’s equity goals and other goals identified by the community.
Business Type. The commercial spaces with appeal would include restaurants that serve/reflect neighborhood in terms of income & diversity; businesses that serve multi-generational customers; businesses that serve park users; businesses that serve residents of the building.
The list below summarizes some examples of active destination businesses with broad community support:
- Restaurants (Coffee, Bakery, Brew Pub)
- Fabric/Knitting Store
- Specialty Paper/Printing Store
- Eyeglass/Optometrist Store
- Music/Instrument Store
- Bird Feed/Yard Supplies
Industry experience. To be eligible, business must be operational for two or more years, and/or have had previous ownership/management experience and/or some experience in the industry paired with business technical training.
Financial qualifications. Owners will need to demonstrate adequate financial resources to maximize their potential for success. This section requires providing a budget and describing access to financial resources for tenant improvement costs and working capital, such as individual development accounts, personal savings, family and friends loans and other financial resources.
In addition, applicants will be evaluated based on tenant mix; uses will be evaluated based on their desirability within the community, potential for success, and compatibility with other uses in the district.