The Downtown Association of Fairbanks announces two financial incentives with a total value of $25,000 to enhance downtown’s business mix, encourage tenancy, private investment and existing local businesses. The incentives align with the city’s storefront improvement program, the Downtown Fairbanks 2040 Plan and recent initiatives for commercial and housing development.
*
The DOWNTOWN RESTAURANT INCENTIVE is up to $10,000 to incentivize new, year-round restaurant openings downtown. Eligible restaurants are ground floor locations in the downtown planning area, with a lease signed before June 30, 2026, for a term of at least 2 years. The incentive is for rent or improvements.
How to Apply: Describe the restaurant plan and the restaurateur’s experience; also include a draft or signed lease meeting the criteria above to david@downtownfairbanks.com. Applications are reviewed when received and an incentive may be awarded prior to June 30, the incentive’s expiration date.
Payment: Provide executed contract and the incentive award will be paid in equal installments over five months once restaurant opens.
**
The DOWNTOWN TENANT INCENTIVE is an additional $15,000 to incentivize new, year-round business openings downtown. Eligible tenancies are ground floor retail and services, 2nd story office and services, mixed uses in the downtown planning area that compliment or strengthen downtown’s existing business mix, and with a lease signed in 2026 for a term of at least 12 months, not to exceed $3,000 per lease. The incentive is for rent or improvements.
How to Apply: Describe the new business and location. Provide a signed lease meeting the criteria stated above to david@downtownfairbanks.com. Applications are reviewed when received and incentives will be committed on a first-come, first-served basis while funds last, for the remainder of 2026.
Payment: Provide executed contract and the incentive amount is equal to a month’s rent (up to $3,000/lease) to be paid in full upon opening.
***
Additionally, both the Restaurant and Rental incentives are “redeemable” by a lessor or lessee; are a gift to improve downtown; and can be used by tenants on city property. A building owner can receive two incentives but not for the same tenant. These incentives are not for residential uses.
Direct questions to david@downtownfairbanks.com or 907-378-1253.