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District F Forward Fund introduced to council as a targeted small-business grant using TIF resources
Summary
Dr. Marquis Pierre presented the District F Forward Fund to the council: a TIF-funded grant program targeting early-stage small businesses in District F with eligibility rules, a two-year residency commitment, partner wraparound services from Southern University's SBDC, and a proposed March public launch.
Dr. Marquis Pierre presented the District F Forward Fund to the Shreveport City Council as a targeted grant program intended to strengthen entrepreneurship, expand small-business opportunity and advance economic growth within District F.
Pierre said the fund is built around the idea that investing in local entrepreneurs keeps wealth and ownership in the district. She described eligibility as: businesses located in or relocating to District F (verified with lease, utility bill or registration), legally registered entities in good standing with the city, and generally micro-enterprises with 10 or fewer employees. Awarded recipients must commit to remaining in District F for at least two years and submit outcome reports every six months to the office that will administer the fund.
The program will pair direct grants (to pay for technology, licensing, training, equipment and other eligible operational needs) with wraparound services provided by the Small Business Development Center at Southern University, Pierre said, naming Amanda Flynn as a partner. Pierre described ineligible uses (payroll/owner salary, rent, mortgage or utility payments, debt repayment, personal expenses, and political/religious activities) and said an additional Monkhouse Drive "gateway" business bonus of up to $1,000 would be available for qualifying corridor businesses.
Pierre said staff aim for a March launch and an economic-empowerment summit to introduce the program. Applications will be submitted via an online portal, evaluated by a designated committee using a rubric focused on readiness, feasibility and impact, and awards will be followed by semiannual outcome reporting to the council office.
Council members asked logistics questions about the portal, outreach, and district branches; Pierre said the website and portal are in development and the program team is coordinating outreach and partnership supports.
No formal ordinance or funding vote for the program was taken at the Jan. 13 meeting; the council was briefed on the program design and proposed rollout.
