Community and Waterfront Revitalization
Monday, September 26, 2011 11:06 PM
Community Development Block Grant Program
(up to $44 million)
CDBG funds are available for economic development, small business and microenterprise activities. Each activity must involve the creation or retention of permanent job opportunities that principally benefit low-and moderate-income persons. For microenterprises, an owner that qualifies as a low- and moderate-income person also meets the requirements of the CDBG Program.
Applications for competitive round CDBG funds submitted under the 2011 NOFA may be considered by Regional Economic Development Councils. New applications for these programs will be accepted in connection with future Notices of Funding Availability.
ELIGIBLE APPLICANTS:
Eligible applicants include non-entitlement villages, towns, cities or counties throughout New York State, excluding metropolitan cities, urban counties, and Indian Tribes that are designated Entitlement communities. Eligible applicants must apply on behalf of the business seeking CDBG funds. Awards are made to the applicant community and not directly to businesses.
ELIGIBLE PROJECT TYPES:
Economic development funding is available for the following activities:
- To provide financial assistance to for-profit businesses for an identified CDBG eligible activity which will result in the creation or retention of permanent job opportunities principally benefitting low- and moderate-income persons;
- To provide resources in an effort to promote small business entrepreneurship as a vehicle for sustainable economic development and growth. For the purposes of the Small Business Assistance program, a small business is defined as a commercial enterprise with twenty five (25) or fewer full-time equivalent employees at the time of application.
- To foster the development or expansion of microenterprises or by providing grants in conjunction with capacity building and entrepreneurial assistance. For the purposes of the Microenterprise program, a microenterprise is defined as a business with five (5) or fewer employees including the owner at the time of application.
Eligible uses of NYS CDBG Economic Development funds include, but are not limited to: acquisition of real property; financing of machinery, furniture, fixtures and equipment; building construction and renovation; working capital; inventory; and employee training expenses. Costs associated with construction, building or other improvements are not eligible uses of NYS CDBG Microenterprise funds.
AWARD, CONDITIONS & REQUIREMENTS:
| Economic Development Program | $750,000 | Minimum Award $100,000 |
| Small Business Assistance Program | $100,000 | Minimum Award $25,000 |
| Microenterprise Program | $200,000 | |
CONTACT/ADDITIONAL PROGRAM INFORMATION:
For more information, eligible applicants should contact Chris Leo at New York State Homes and Community Renewal, 38-40 State St, Albany, New York 12207, call (518) 474-2057 or visithttp://nysdhcr.gov/Programs/NYS-CDBG/EconomicDevelopment.htm
