1. The DDA will pay a “bounty” amounting
to $1,000 for a new retail business, which was not in
existence in the Downtown Development Authority (DDA)
District or Cadillac area before the submittal of the
“bounty”, and is locating in the DDA District.
The Cadillac area is defined as any location with a “Cadillac,
MI 49601” mailing address. This new business must
result in the non-temporary occupation of a currently
vacant storefront. It must also be compatible and consistent
with other downtown businesses. For the purpose of this
program, a retail “bounty” shall only be paid
to individuals who assist the DDA in the recruitment of
a business whose primary function is to sell merchandise.
Primary function is defined as a business with at least
51% of its total square footage dedicated to the sale
of a retail product.
2. A “bounty will be paid by the DDA to an individual
who is verified by the owner of the new business to be
the procuring cause of the location of the business. The
individual would apply for the bounty at the time the
new business is opened, using a form provided by the DDA
detailing the individual’s actions to locate the
new business. The application and content will be verified
by the new business owner/representative.
3. Payment will be made six (6) months after the eligible
new business opens.
4. Employees of the City of Cadillac and elected city
officials, DDA Board members, DDA Committee members, and
Cadillac Area Chamber of Commerce and Visitor’s
Bureau staff shall be prohibited from claiming a “bounty”.
5. All “bounty” submittals shall be reviewed
by the DDA Recruitment Committee for eligibility in accordance
with these rules and regulations. The Recruitment Committee
shall then provide a recommendation to the DDA Board for
final determination. Funds for the project shall be available
through DDA operating revenues.
6. Only one (1) bounty shall be paid on behalf of a new
business owner, even if that new business owner opens
multiple businesses in the DDA District.
This program shall expire at the pleasure of the DDA
board. Upon announcement of such expiration, the DDA shall
render a determination within 30 days on all bounty applications
then on file.
