Small Business Impact Opportunity Fund – Denver, CO
Tool: Relocation Assistance and Right-to-Return Policies
The Denver Small Business Impact Opportunity Fund (BioFund), established in 2019, provides grants to small businesses that are forced to relocate because of new, city-funded development, or whose operation is disrupted by the construction. The fund, which relied heavily on American Rescue Plan Act (ARPA) dollars, pivoted in 2020 to support small businesses impacted by the pandemic. In 2022 and 2023, the BioFund provided grants to small businesses displaced by public or private development—while municipalities typically only provide relocation assistance for publicly funded development projects (if at all), Denver’s fund was robust enough to expand the assistance. The anti-displacement grants helped six businesses stay in their community by providing up to $15,000 for them to lease or buy new property within a half mile of their original location. However, with the end of ARPA funding, as of 2024 the BioFund only provides grants to businesses affected by publicly funded projects.