The Town of Erie Board of Trustees approved the 2013 Commercial Broker Incentive Program as part of the Town’s economic development efforts. The program rewards referring real estate brokers for their efforts in attracting new business expansion in Erie. After the new business is open for a minimum of 90 days, the referring real estate broker is eligible for a 0.5% fee based on the purchase price or lease value of the property*.
Download Application
Purchase Price Example:
Purchase Price - $500,000
Business Opening Date - March 1, 2013
Eligibility Date - June 1, 2013
Incentive Amount - $2,500
Lease Price Example:
Monthly Lease Rate - $10,000
3 Year Lease Rate - $360,000
Business Opening Date - March 1, 2013
Eligibility Date - June 1, 2013
Incentive Amount - $1,800
The Town’s 2013 Budget allocates $15,000 for the Commercial Broker Incentive Program. That amount supports $3 million in commercial real estate projects.
All business categories including: retail, office, light industrial, and primary employment are eligible for broker incentives under this new program.
- Must result in a new commercial business
- Must be licensed broker/leasing agent/landlord directly responsible for new commercial tenant
- Broker and new commercial tenant must both have valid Town of Erie Business License
- 90 calendar days from when doors are first open for business (not closing date)
- Incentive(s) is paid to brokerage firm – not individual broker
- Incentive award eligibility limited to one per property per year (12 months)
Download Application
To learn more about the program, and to see how your commercial real estate project can benefit by locating in Erie, please contact:
Paula Mehle
Economic Development Coordinator
303-926-2769