Anchor tenants provide essential services for Incubator tenants at no cost and or at a reduced rate in exchange for reduced market rents. Anchor tenants will also need to provide one workshop per quarter relevant to small businesses and specific to their area of expertise. Anchor tenants will be required to assist current tenants and encouraged to help with recruiting and development of new businesses as spin-offs of their business activities. Anchor tenant is defined as a business that is deemed to be successful and has a track record of, or is willing to assist, recruit, and develop small businesses. Anchor tenants will be evaluated on an annual basis to determine level and quality of services to businesses.  A Memorandum of Agreement will be executed detailing the specific requirements for occupancy in the MBEC.  An Anchor Tenant may be a for-profit or not-for-profit business.

Non-profit businesses may be allowed entrance as Anchor Tenants with the following conditions:

1. Must provide community and /or economic development services to Incubator Tenants and/or the City’s CDBG entitlement areas.
2. Must have a 501{c}{3} or other recognized tax-exempt designation from the Internal Revenue Service.

Anchor tenants will be accepted into the program at a rate of $.75 per square feet and this price will remain in place unless it is determined that services are no longer useful or warranted. There is no graduation requirement for Anchor Tenants.