Laserfiche WebLink
Economic Development <br />Economic Development (can be more than $750,000) <br />Open until State funds expended — does not compete with regular <br />CDBG <br />> Infrastructure needed for business expansion or new <br />business: water, sewer, rail, traffic, roads, gas, fiber <br />> Local government-owned buildings; market rent <br />> Loans to businesses (via eligible local governments) <br />> Job Creation required: grant per job under $35,000 <br />> At least 51% of the jobs created going to persons of LMI <br />households; diploma or equivalent and on job training <br />Economic Development, cont. <br />NOW HIRING <br />*Pall TO <br />Economic Development — Sample program <br />e) Public Benefit Standards = cost per job under <br />$35,000 (e.g. — For a $1,500,000 grant: <br />$1,500,000 divided by $34,999 = 42.85 = round <br />up = 43 Jobs Minimum) <br />f) National Objective = Job Creation with at least <br />51% of the jobs created going to LMI Persons. <br />(e.g. Above 43 Jobs times .51 = 21.85 = round up <br />= 22 LMI Jobs) <br />12/17/2014 <br />