Three projects have received more than $840,000 in grant funding through Boulder’s new Affordable Commercial Pilot Program.

The pilot program, which was launched last year, aims to support small businesses in Boulder by providing funding for rent subsidies and projects that transform or improve existing commercial spaces. The city is home to thousands of businesses, most with fewer than 50 employees. But many of these small businesses have struggled with the rising costs of commercial space as well as other challenges.

City officials have announced KGNU Radio, Top Hat Supply for Journeys and The New Local as the first three grantees for this funding.

Grantees were selected based on their potential community impact, longevity and focus on local small businesses, according to a city release.

KGNU will use its funding to renovate its new 10,000-square-foot community media center at 1720 14th St.

The center will serve as a home base for the radio while also offering dedicated affordable space for a cafe as well as spaces for nonprofits and arts groups to rent.

Top Hat Supply received funding to revitalize its 1721 Pearl St. location, which will also house a nonprofit and creative business incubator space. The space is expected to provide open studio time and gallery space for artists, and it will also host community events.

The New Local, at 713 Pearl St., received a rent subsidy for at least the next five years. The small business sells art, jewelry and other goods made by local women, and with the grant funding, it will be able to offer lower fees to these makers.

The Affordable Commercial Pilot Program is funded in part by the American Rescue Plan Act, a COVID-19-era economic stimulus program.