MBEC Programs
Types of Tenants
The Microbusiness Enterprise Center will house four main types of tenants: Anchor,Virtual,Market and Incubator Tenants.
The Incubator Program Tenant description is one that meets all the eligibility requirements and follows the appropriate track set by the MBEC staff to remain in compliance with the program (listed in further detail later). There are, however, other tenants that may not have to meet every eligibility set forth for Incubator Tenants but they bring a service to those that do and they are called Anchor Tenants. Virtual Tenants are entrepreneurs that are establishing their business and only need space for a limited time of temporary location to conduct business needs. Market tenants are established businesses that are seeking office space to provide their customer/client with a professional atmosphere.
CLIENT MIX
MBEC is a mixed-use incubator program for microenterprises in which a minimum of 51% of the leasable space will be available for incubated clients. A maximum of 49% of the leasable space may be made available to ‘tenants’ that choose not to participate in the incubation program. Market rate tenants will not be subject to program requirements of the incubation program but will be charged fair market rate for rental space.
To ensure fair competition in the MBEC incubation program, applicants that offer a service or product that is already being provided by Two Clients, will not be accepted into the program. They may be placed on the waiting list until either of the two Clients is no longer a part of the program.
All efforts will be made to ensure that a diverse demographic and clientele is sought and accepted for participation in the program. Further, MBEC will ensure that a minimum of 51% of the available square footage of leasable space will be available for new and startup microenterprises. No more than 49% of the leasable space will be available to Anchor Clients or other City of Albany sponsored programs.
Suites may be shown to interested applicants during regular business hour. All appointments are required to show ID and complete an Inquiry Form. Staff should take every possible measure to follow-up and track all inquiries and to match applicants with the suite that best fits their operational and staffing needs. Consideration should also be taken for the proximity of similar businesses. Suites cannot be reserved for applicants until accepted into MBEC and a security deposit is placed.
If it is determined that the business plan or financial statements need further development and the applicant is referred for technical assistance, the applicant may be accepted into the incubation program provisionally until those items are strengthened and/or corrected. Provisional acceptance means that the business owner’s application will be held on file until corrective action is taken to improve their application. The prospective application will be held for no longer than ninety days from the date of the application. This is the applicant acceptance date stamps.
After technical assistance is provided, the applicant may submit the revised deficient document. The full application will then be reviewed for final evaluation.
If no corrective action occurs or the three-month time period expires, then the application will no longer be considered. The applicant may reapply after six months from the ending date of their 90 day extension.
Each Client application is reviewed carefully and thoroughly. The legitimacy of the business and the information submitted on the application, as attested to by the applicant, constitutes the extent of inquiry. There will be no illegal, immoral or unethical business practices permitted in the MBEC. Discovery of any such activities are grounds for immediate termination, along with an accompanying report to the appropriate authorities.
Business (es) that have misrepresented their business concerns, ownership or other activities deemed to be misleading in any way will be brought before the Advisory Committee and a determination will be made on continued participation in the MBEC Incubation Program. The decision will be based upon the information submitted by the Client and/or MBEC staff.
